Brokerages Set Zevia PBC (NYSE:ZVIA) PT at $4.61

Zevia PBC (NYSE:ZVIA) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $4.6125.

A number of analysts have commented on ZVIA shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 target price on shares of Zevia PBC in a report on Thursday, November 6th. Zacks Research downgraded Zevia PBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Zevia PBC

Several institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its holdings in shares of Zevia PBC by 2,701.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 544,099 shares of the company’s stock valued at $1,175,000 after buying an additional 524,675 shares during the period. Acadian Asset Management LLC raised its stake in Zevia PBC by 950.8% during the 1st quarter. Acadian Asset Management LLC now owns 607,303 shares of the company’s stock worth $1,309,000 after buying an additional 549,508 shares during the period. Kapitalo Investimentos Ltda bought a new position in Zevia PBC during the second quarter worth about $467,000. Emerald Mutual Fund Advisers Trust lifted its holdings in Zevia PBC by 99.9% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 761,700 shares of the company’s stock worth $2,453,000 after acquiring an additional 380,693 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in Zevia PBC in the second quarter valued at about $734,000. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Zevia PBC Trading Down 1.7%

Shares of NYSE:ZVIA opened at $2.29 on Tuesday. Zevia PBC has a 1-year low of $1.88 and a 1-year high of $4.99. The stock has a market capitalization of $171.75 million, a P/E ratio of -10.41 and a beta of 0.85. The business has a 50-day moving average price of $2.53 and a two-hundred day moving average price of $2.74.

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