Zevia PBC (NYSE:ZVIA) Coverage Initiated by Analysts at Craig Hallum

Stock analysts at Craig Hallum started coverage on shares of Zevia PBC (NYSE:ZVIA) in a report released on Thursday. The brokerage set a “buy” rating and a $4.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 138.81% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a report on Wednesday, October 8th. Zacks Research downgraded Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 price objective on shares of Zevia PBC in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.68.

Zevia PBC Stock Down 3.7%

Shares of Zevia PBC stock opened at $1.68 on Thursday. The stock has a market cap of $125.63 million, a P/E ratio of -7.61 and a beta of 0.87. Zevia PBC has a 12-month low of $1.66 and a 12-month high of $4.99. The business’s 50 day moving average is $2.43 and its 200-day moving average is $2.63.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Zevia PBC had a negative net margin of 8.83% and a negative return on equity of 30.61%. The business had revenue of $40.84 million during the quarter, compared to analysts’ expectations of $39.33 million. On average, sell-side analysts expect that Zevia PBC will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Zevia PBC during the second quarter worth approximately $25,000. CreativeOne Wealth LLC increased its stake in shares of Zevia PBC by 45.4% during the third quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock worth $77,000 after purchasing an additional 8,787 shares during the period. DKM Wealth Management Inc. acquired a new stake in Zevia PBC during the 2nd quarter worth approximately $42,000. SG Americas Securities LLC bought a new stake in Zevia PBC in the 4th quarter valued at $31,000. Finally, R Squared Ltd bought a new stake in Zevia PBC in the 3rd quarter valued at $36,000. 53.21% of the stock is owned by institutional investors.

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.