Telsey Advisory Group Lowers Zevia PBC (NYSE:ZVIA) Price Target to $5.00

Zevia PBC (NYSE:ZVIA) had its target price reduced by analysts at Telsey Advisory Group from $6.00 to $5.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 274.53% from the company’s current price.

ZVIA has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Zacks Research downgraded Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Craig Hallum initiated coverage on Zevia PBC in a research report on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.43.

Zevia PBC Stock Performance

NYSE ZVIA opened at $1.34 on Thursday. The firm has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $2.33. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The firm has a market cap of $100.13 million, a price-to-earnings ratio of -8.90 and a beta of 0.86.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $37.87 million for the quarter, compared to the consensus estimate of $39.96 million. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.29%. Equities analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total value of $7,000,000.00. Following the completion of the transaction, the insider directly owned 13,550,428 shares of the company’s stock, valued at $27,100,856. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Zevia PBC during the second quarter worth approximately $25,000. Quadrature Capital Ltd purchased a new position in Zevia PBC during the 4th quarter worth $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Zevia PBC in the fourth quarter valued at $27,000. Engineers Gate Manager LP purchased a new stake in shares of Zevia PBC in the fourth quarter valued at about $28,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Zevia PBC during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 53.21% of the company’s stock.

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.