Zevia PBC (NYSE:ZVIA) Stock Price Down 2.5% – What’s Next?

Zevia PBC (NYSE:ZVIA) shares fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $1.74 and last traded at $1.7550. 539,131 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 1,178,846 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

ZVIA has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Zacks Research cut shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price target on shares of Zevia PBC in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Zevia PBC currently has an average rating of “Hold” and a consensus price target of $4.90.

Zevia PBC Trading Down 2.5%

The business has a 50-day moving average of $2.44 and a two-hundred day moving average of $2.64. The firm has a market cap of $131.63 million, a P/E ratio of -7.98 and a beta of 0.87.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $40.84 million during the quarter, compared to the consensus estimate of $39.33 million. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%. As a group, equities analysts expect that Zevia PBC will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors have recently added to or reduced their stakes in ZVIA. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Zevia PBC during the second quarter valued at $25,000. SG Americas Securities LLC acquired a new stake in Zevia PBC in the fourth quarter valued at $31,000. R Squared Ltd acquired a new stake in Zevia PBC in the third quarter valued at $36,000. DKM Wealth Management Inc. bought a new position in Zevia PBC during the 2nd quarter worth $42,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Zevia PBC during the 3rd quarter worth about $44,000. 53.21% of the stock is owned by institutional investors.

Zevia PBC Company Profile

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.