Zevia PBC (NYSE:ZVIA) Receives $4.43 Consensus PT from Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have been assigned a consensus rating of “Hold” from the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.4250.

A number of analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Telsey Advisory Group lowered their price objective on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Craig Hallum started coverage on Zevia PBC in a research note on Thursday, January 15th. They set a “buy” rating and a $4.00 price objective for the company.

Zevia PBC Price Performance

Shares of Zevia PBC stock opened at $1.29 on Friday. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.66. The company’s fifty day simple moving average is $1.69 and its 200-day simple moving average is $2.23. The stock has a market capitalization of $96.88 million, a PE ratio of -8.60 and a beta of 0.90.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%.The firm had revenue of $37.87 million during the quarter, compared to analyst estimates of $39.96 million. As a group, research analysts anticipate that Zevia PBC will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of Zevia PBC stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the transaction, the insider owned 13,550,428 shares of the company’s stock, valued at $27,100,856. The trade was a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.11% of the stock is owned by corporate insiders.

Institutional Trading of Zevia PBC

Several institutional investors and hedge funds have recently modified their holdings of ZVIA. Virtu Financial LLC purchased a new position in shares of Zevia PBC during the 4th quarter valued at $66,000. Quadrature Capital Ltd purchased a new stake in Zevia PBC in the 4th quarter worth $26,000. Millennium Management LLC purchased a new stake in Zevia PBC in the 4th quarter worth $149,000. Engineers Gate Manager LP bought a new stake in Zevia PBC during the fourth quarter valued at about $28,000. Finally, Bridgeway Capital Management LLC raised its holdings in Zevia PBC by 73.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 191,700 shares of the company’s stock valued at $445,000 after acquiring an additional 81,100 shares during the period. 53.21% of the stock is currently owned by 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.