Zevia PBC (NYSE:ZVIA) Receives $4.43 Average Price Target from Analysts

Shares of Zevia PBC (NYSE:ZVIA) have been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.4250.

ZVIA has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research report on Monday, April 20th. Telsey Advisory Group cut their price target on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th.

Insiders Place Their Bets

In related news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $21,660,813.20. This trade represents a 15.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Girish Satya sold 41,662 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total value of $49,161.16. Following the sale, the chief financial officer directly owned 327,909 shares in the company, valued at $386,932.62. The trade was a 11.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 11.11% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

Large investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP increased its holdings in Zevia PBC by 90.6% during the 3rd quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock worth $16,753,000 after purchasing an additional 2,928,382 shares in the last quarter. Ghisallo Capital Management LLC grew its holdings in shares of Zevia PBC by 265.1% in the 3rd quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $2,992,000 after acquiring an additional 798,700 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Zevia PBC in the 4th quarter valued at about $4,864,000. Stoic Point Capital Management LLC bought a new position in shares of Zevia PBC in the 1st quarter valued at about $867,000. Finally, R Squared Ltd grew its holdings in shares of Zevia PBC by 228.8% in the 4th quarter. R Squared Ltd now owns 44,012 shares of the company’s stock valued at $102,000 after acquiring an additional 30,627 shares in the last quarter. Institutional investors own 53.21% of the company’s stock.

Zevia PBC Price Performance

NYSE ZVIA opened at $1.60 on Friday. The firm has a market cap of $122.78 million, a PE ratio of -15.95 and a beta of 0.95. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The stock’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.78.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $46.09 million for 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%. As a group, equities analysts expect that Zevia PBC will post -0.1 earnings per share 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.