Zevia PBC (NYSE:ZVIA) Given Consensus Recommendation of “Hold” by Brokerages

Zevia PBC (NYSE:ZVIA) has been given an average rating of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $4.17.

A number of brokerages recently commented on ZVIA. Telsey Advisory Group restated a “market perform” rating and set a $4.00 target price on shares of Zevia PBC in a report on Wednesday, February 21st. Morgan Stanley decreased their price objective on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th.

Zevia PBC Stock Down 3.0 %

Shares of Zevia PBC stock opened at $1.00 on Tuesday. The company has a market cap of $71.81 million, a PE ratio of -2.38 and a beta of 0.57. The business has a 50 day moving average of $1.34 and a 200 day moving average of $1.73. Zevia PBC has a 52 week low of $0.96 and a 52 week high of $4.80.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Tuesday, February 27th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $37.79 million for the quarter, compared to the consensus estimate of $37.75 million. Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. During the same quarter in the prior year, the company earned ($0.10) EPS. On average, research analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In other Zevia PBC news, Director Padraic L. Spence sold 26,199 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $1.32, for a total value of $34,582.68. Following the completion of the transaction, the director now owns 1,753,540 shares in the company, valued at $2,314,672.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Padraic L. Spence sold 26,199 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $1.32, for a total transaction of $34,582.68. Following the completion of the transaction, the director now directly owns 1,753,540 shares in the company, valued at $2,314,672.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Padraic L. Spence sold 36,300 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total value of $37,026.00. Following the transaction, the director now owns 1,717,240 shares of the company’s stock, valued at $1,751,584.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,870 shares of company stock worth $189,756. 11.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zevia PBC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Zevia PBC during the third quarter valued at $31,000. California State Teachers Retirement System purchased a new position in Zevia PBC in the second quarter worth about $36,000. Sapient Capital LLC purchased a new position in Zevia PBC in the fourth quarter worth about $41,000. Cubist Systematic Strategies LLC purchased a new position in Zevia PBC in the second quarter worth about $42,000. Finally, Prelude Capital Management LLC purchased a new position in Zevia PBC in the second quarter worth about $47,000. 53.21% of the stock is currently owned by institutional investors.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.