De Depot Et Placement Caisse Sells 2,150,000 Shares of Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) major shareholder De Depot Et Placement Caisse sold 2,150,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the sale, the insider owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Zevia PBC Trading Down 2.2%

Zevia PBC stock opened at $1.56 on Friday. Zevia PBC has a twelve month low of $1.11 and a twelve month high of $3.66. The stock’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.78. The firm has a market capitalization of $119.70 million, a P/E ratio of -15.55 and a beta of 0.95.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $46.09 million during the quarter, compared to analyst estimates of $40.97 million. Zevia PBC had a negative return on equity of 13.43% and a negative net margin of 4.11%. Sell-side analysts predict that Zevia PBC will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Zevia PBC

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

Wall Street Analysts Forecast Growth

ZVIA has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Monday, April 20th. Telsey Advisory Group dropped their price objective on shares of Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.43.

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.