Zevia PBC (NYSE:ZVIA) Given Consensus Rating of “Hold” by Analysts

Shares of Zevia PBC (NYSE:ZVIA) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.4250.

A number of equities research analysts have recently issued reports on ZVIA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Monday, April 20th. Telsey Advisory Group lowered their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th.

Insider Transactions at Zevia PBC

In other 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 value of $49,161.16. Following the completion of the sale, the chief financial officer owned 327,909 shares in the company, valued at approximately $386,932.62. This trade represents a 11.27% 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. 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 shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of 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 SEC filing for this sale provides additional information. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

A number of hedge funds have recently bought and sold shares of the business. Divisadero Street Capital Management LP grew its stake 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 valued at $16,753,000 after purchasing an additional 2,928,382 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in Zevia PBC during the 4th quarter valued at approximately $4,864,000. Vanguard Group Inc. grew its stake in Zevia PBC by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company’s stock valued at $5,348,000 after purchasing an additional 89,810 shares in the last quarter. Kanen Wealth Management LLC acquired a new stake in Zevia PBC during the 1st quarter valued at approximately $1,462,000. Finally, Ghisallo Capital Management LLC grew its stake in Zevia PBC by 265.1% during the 3rd quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $2,992,000 after purchasing an additional 798,700 shares in the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

Zevia PBC Price Performance

Shares of NYSE:ZVIA opened at $1.29 on Tuesday. Zevia PBC has a 12 month low of $1.11 and a 12 month high of $3.66. The firm has a market capitalization of $98.92 million, a PE ratio of -12.85 and a beta of 1.01. The business has a 50-day moving average of $1.35 and a two-hundred day moving average of $1.68.

Zevia PBC (NYSE:ZVIA) last posted 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). 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 during the quarter, compared to analyst estimates of $40.97 million. As a group, research analysts anticipate 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.