Zevia PBC (NYSE:ZVIA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Zevia PBC (NYSE:ZVIA) have received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.6125.

Several analysts recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Zevia PBC in a report on Thursday, November 6th. Zacks Research lowered shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, October 8th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey acquired a new position in Zevia PBC during the 2nd quarter valued at $25,000. DKM Wealth Management Inc. bought a new position in shares of Zevia PBC during the 2nd quarter worth about $42,000. R Squared Ltd acquired a new position in shares of Zevia PBC during the third quarter valued at about $36,000. JPMorgan Chase & Co. raised its position in shares of Zevia PBC by 2,460.7% during the second quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock valued at $50,000 after buying an additional 14,912 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Zevia PBC by 2,845.4% in the fourth quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after buying an additional 15,280 shares during the period. 53.21% of the stock is owned by institutional investors.

Zevia PBC Stock Performance

Shares of ZVIA opened at $2.29 on Tuesday. The firm has a market cap of $171.38 million, a PE ratio of -10.39 and a beta of 0.85. Zevia PBC has a twelve month low of $1.88 and a twelve month high of $4.99. The firm’s 50 day moving average price is $2.53 and its 200 day moving average price is $2.74.

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

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.