Zevia PBC’s (ZVIA) “Outperform” Rating Reiterated at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 241.88% from the company’s current price.

Several other equities research analysts have also issued reports on ZVIA. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, October 8th. Zacks Research lowered Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Two investment 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. Based on data from MarketBeat.com, Zevia PBC presently has an average rating of “Hold” and an average price target of $4.90.

Zevia PBC Stock Performance

NYSE ZVIA opened at $1.76 on Wednesday. The company’s 50 day moving average price is $2.44 and its 200 day moving average price is $2.64. Zevia PBC has a one year low of $1.74 and a one year high of $4.99. The firm has a market capitalization of $131.63 million, a price-to-earnings ratio of -7.98 and a beta of 0.87.

Zevia PBC (NYSE:ZVIA) last issued its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%.The company had revenue of $40.84 million during the quarter, compared to the consensus estimate of $39.33 million. Sell-side analysts forecast that Zevia PBC will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Zevia PBC

Large investors have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in Zevia PBC during the 2nd quarter worth approximately $25,000. SG Americas Securities LLC acquired a new stake in shares of Zevia PBC during the 4th quarter valued at about $31,000. R Squared Ltd bought a new stake in shares of Zevia PBC in the 3rd quarter valued at approximately $36,000. DKM Wealth Management Inc. bought a new position in shares of Zevia PBC during the 2nd quarter valued at $42,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Zevia PBC in the 3rd quarter valued at $44,000. 53.21% of the stock is owned by institutional investors.

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.