Zevia PBC (NYSE:ZVIA) Price Target Lowered to $1.25 at The Goldman Sachs Group

Zevia PBC (NYSE:ZVIA) had its price objective lowered by stock analysts at The Goldman Sachs Group from $3.00 to $1.25 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 45.69% from the stock’s current price.

A number of other equities analysts also recently weighed in on ZVIA. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Zevia PBC in a research note on Wednesday, February 21st. Morgan Stanley reduced their price objective on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.88.

Zevia PBC Trading Down 17.5 %

NYSE ZVIA opened at $0.86 on Thursday. The firm has a market capitalization of $61.65 million, a price-to-earnings ratio of -2.04 and a beta of 0.66. The firm’s 50 day simple moving average is $1.10 and its 200 day simple moving average is $1.60. Zevia PBC has a 1 year low of $0.78 and a 1 year high of $4.80.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). 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 for the quarter, compared to analyst estimates of $39.82 million. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current year.

Insider Activity

In related news, CEO Amy Taylor sold 30,703 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $1.02, for a total transaction of $31,317.06. Following the transaction, the chief executive officer now directly owns 959,252 shares in the company, valued at $978,437.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Zevia PBC news, CEO Amy Taylor sold 30,703 shares of Zevia PBC stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $1.02, for a total value of $31,317.06. Following the sale, the chief executive officer now owns 959,252 shares of the company’s stock, valued at $978,437.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Padraic L. Spence sold 36,300 shares of Zevia PBC stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total transaction of $37,026.00. Following the completion of the sale, the director now directly owns 1,717,240 shares in the company, valued at approximately $1,751,584.80. The disclosure for this sale can be found here. Insiders sold 103,937 shares of company stock worth $114,160 over the last three months. 12.55% of the stock is currently owned by insiders.

Institutional Trading of Zevia PBC

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Zevia PBC in the third quarter valued at approximately $31,000. Sapient Capital LLC bought a new stake in Zevia PBC during the 4th quarter worth approximately $41,000. Finally, Kennedy Capital Management LLC increased its holdings in Zevia PBC by 51.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 645,041 shares of the company’s stock worth $1,432,000 after acquiring an additional 219,932 shares during the period. Institutional investors own 53.21% of the company’s stock.

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.