Zevia PBC (NYSE:ZVIA) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Zevia PBC (NYSE:ZVIA) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings raised shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zevia PBC presently has a consensus rating of “Hold” and an average target price of $3.90.

Zevia PBC Trading Down 4.2%

Shares of ZVIA opened at $1.38 on Friday. The business’s 50 day moving average is $1.56 and its 200 day moving average is $1.48. Zevia PBC has a 12-month low of $1.11 and a 12-month high of $3.38. The company has a market capitalization of $106.23 million, a PE ratio of -10.62 and a beta of 0.99.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Zevia PBC had a negative return on equity of 16.92% and a negative net margin of 5.34%.The business had revenue of $45.00 million during the quarter, compared to the consensus estimate of $44.21 million. Equities research analysts predict that Zevia PBC will post -0.12 earnings per share for the current year.

Insider Transactions at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Zevia PBC

Several hedge funds have recently made changes to their positions in the business. Quadrature Capital Ltd bought a new position in shares of Zevia PBC in the 4th quarter valued at about $26,000. Engineers Gate Manager LP bought a new stake in Zevia PBC during the fourth quarter worth approximately $28,000. SG Americas Securities LLC purchased a new stake in Zevia PBC during the fourth quarter valued at approximately $31,000. JPMorgan Chase & Co. raised its position in Zevia PBC by 2,460.7% during the second quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock valued at $50,000 after purchasing an additional 14,912 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Zevia PBC by 2,845.4% in the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after purchasing an additional 15,280 shares during the last quarter. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

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.