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 analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.4250.

Several equities analysts recently weighed in on the company. Telsey Advisory Group reduced their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research report on Monday, April 20th.

Zevia PBC Stock Down 13.2%

Shares of NYSE:ZVIA opened at $1.29 on Tuesday. Zevia PBC has a 52-week low of $1.11 and a 52-week high of $3.66. The stock’s fifty day simple moving average is $1.35 and its 200-day simple moving average is $1.68. The company has a market capitalization of $98.92 million, a P/E ratio of -12.85 and a beta of 1.01.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Zevia PBC had a negative return on equity of 13.43% and a negative net margin of 4.11%.The business had revenue of $46.09 million for the quarter, compared to the consensus estimate of $40.97 million. On average, sell-side analysts anticipate that Zevia PBC will post -0.1 earnings per share for the current year.

Insider Activity

In related news, CFO Girish Satya sold 41,662 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total transaction 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. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total value of $4,085,000.00. Following the transaction, the insider owned 11,400,428 shares in the company, valued at $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in Zevia PBC during the fourth quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Zevia PBC during the fourth quarter worth about $27,000. Engineers Gate Manager LP acquired a new stake in Zevia PBC during the fourth quarter worth about $28,000. SG Americas Securities LLC acquired a new stake in Zevia PBC during the fourth quarter worth about $31,000. Finally, R Squared Ltd acquired a new stake in Zevia PBC during the third quarter worth about $36,000. 53.21% of the stock is currently owned by institutional investors and hedge funds.

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.