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

Zevia PBC (NYSE:ZVIA) has been given a consensus rating of “Hold” by the six brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.4250.

Several research firms recently weighed in on ZVIA. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Telsey Advisory Group dropped their price target on shares of Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Craig Hallum initiated coverage on shares of Zevia PBC in a report on Thursday, January 15th. They set a “buy” rating and a $4.00 price objective on the stock.

Insider Buying and Selling at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were 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 owned 13,550,428 shares in the company, valued at $27,100,856. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Girish Satya sold 41,662 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total value of $49,161.16. Following the transaction, the chief financial officer directly owned 327,909 shares in the company, valued at approximately $386,932.62. The trade was a 11.27% decrease in their position. The SEC filing for this sale provides additional information. 11.11% of the stock is owned by company insiders.

Institutional Trading of Zevia PBC

A number of large investors have recently made changes to their positions in ZVIA. Quadrature Capital Ltd purchased a new position in Zevia PBC during the 4th quarter worth approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Zevia PBC in the fourth quarter valued at approximately $27,000. Engineers Gate Manager LP acquired a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $28,000. SG Americas Securities LLC purchased a new position in shares of Zevia PBC during the fourth quarter worth approximately $31,000. Finally, R Squared Ltd acquired a new position in shares of Zevia PBC in the 3rd quarter valued at $36,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.17 on Thursday. The stock has a market cap of $87.49 million, a PE ratio of -7.77 and a beta of 0.93. The stock’s fifty day moving average is $1.51 and its two-hundred day moving average is $2.08. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.66.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $37.87 million during the quarter, compared to the consensus estimate of $39.96 million. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%. On average, research analysts expect that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

About Zevia PBC

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.