Zevia PBC (NYSE:ZVIA) Issues Quarterly Earnings Results, Meets Expectations

Zevia PBC (NYSE:ZVIA) released its earnings results on Wednesday. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10), Zacks reports. Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. The business had revenue of $38.80 million during the quarter, compared to the consensus estimate of $39.82 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. Zevia PBC updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Zevia PBC Price Performance

Shares of NYSE ZVIA traded up $0.01 during trading on Thursday, reaching $0.87. 158,782 shares of the stock traded hands, compared to its average volume of 162,333. The stock has a market capitalization of $62.52 million, a P/E ratio of -2.07 and a beta of 0.66. Zevia PBC has a 52-week low of $0.78 and a 52-week high of $4.80. The company has a 50-day moving average of $1.10 and a 200-day moving average of $1.60.

Analyst Upgrades and Downgrades

ZVIA has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating for the company in a research note on Thursday. The Goldman Sachs Group cut their price objective on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price target on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, Telsey Advisory Group reduced their price objective on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.21.

Insider Buying and Selling

In other Zevia PBC news, Director Padraic L. Spence sold 26,199 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $1.32, for a total transaction of $34,582.68. Following the sale, the director now owns 1,753,540 shares of the company’s stock, valued at approximately $2,314,672.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Amy Taylor sold 30,703 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $1.02, for a total transaction of $31,317.06. Following the sale, the chief executive officer now directly owns 959,252 shares in the company, valued at $978,437.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Padraic L. Spence sold 26,199 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $1.32, for a total transaction of $34,582.68. Following the completion of the transaction, the director now owns 1,753,540 shares of the company’s stock, valued at $2,314,672.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,937 shares of company stock valued at $114,160. 12.55% of the stock is owned by insiders.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.