Zevia PBC (NYSE:ZVIA) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Zevia PBC (NYSE:ZVIA) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $1.27 and traded as high as $1.44. Zevia PBC shares last traded at $1.3610, with a volume of 1,356,237 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on ZVIA shares. Weiss Ratings upgraded Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Wall Street Zen raised Zevia PBC from a “sell” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.50.

Zevia PBC Price Performance

The business has a fifty day moving average of $1.27 and a 200-day moving average of $1.42.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business had revenue of $48.34 million during the quarter, compared to the consensus estimate of $44.80 million. Zevia PBC had a negative net margin of 4.79% and a negative return on equity of 15.45%. On average, analysts predict that Zevia PBC will post -0.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZVIA. Bank of New York Mellon Corp raised its holdings in shares of Zevia PBC by 12.9% in the 1st quarter. Bank of New York Mellon Corp now owns 112,370 shares of the company’s stock worth $131,000 after acquiring an additional 12,844 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in Zevia PBC during the 2nd quarter valued at about $26,000. Ruggaard & Associates LLC acquired a new position in Zevia PBC during the 2nd quarter valued at about $28,000. R Squared Ltd acquired a new position in Zevia PBC during the 3rd quarter valued at about $44,000. Finally, Sei Investments Co. bought a new stake in Zevia PBC during the 1st quarter worth approximately $86,000. 53.21% of the stock is currently owned by institutional investors and hedge funds.

About Zevia PBC

Zevia PBC is a beverage company that develops and markets zero-sugar, zero-calorie drinks made without artificial sweeteners. Its portfolio is centered on Zevia Soda, a line of naturally sweetened carbonated soft drinks available in flavors such as cola, citrus, root beer and ginger ale.

The company also offers Zevia Energy drinks and other beverage products designed for consumers seeking alternatives to traditional soft drinks. Zevia products use plant-based sweeteners, including stevia, and are generally positioned as beverages with simple ingredients and no artificial colors.

Founded in 2007, Zevia sells its products primarily in the United States and Canada through grocery stores, mass merchants, warehouse clubs, natural and specialty retailers, convenience stores, online channels and food-service distributors.