Soviero Asset Management LP Takes $880,000 Position in Zevia PBC (NYSE:ZVIA)

Soviero Asset Management LP acquired a new stake in shares of Zevia PBC (NYSE:ZVIA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 210,000 shares of the company’s stock, valued at approximately $880,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Silvercrest Asset Management Group LLC increased its stake in shares of Zevia PBC by 87.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,323,885 shares of the company’s stock valued at $5,547,000 after acquiring an additional 616,244 shares during the last quarter. ArrowMark Colorado Holdings LLC acquired a new position in shares of Zevia PBC during the 4th quarter valued at about $4,190,000. Geode Capital Management LLC increased its stake in shares of Zevia PBC by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 539,652 shares of the company’s stock valued at $2,262,000 after acquiring an additional 3,177 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Zevia PBC during the 4th quarter valued at about $1,245,000. Finally, Marshall Wace LLP acquired a new position in shares of Zevia PBC during the 4th quarter valued at about $858,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

Zevia PBC Stock Performance

ZVIA opened at $3.03 on Monday. Zevia PBC has a 1 year low of $0.62 and a 1 year high of $4.99. The firm has a 50 day moving average price of $2.30 and a 200 day moving average price of $2.86. The company has a market cap of $222.36 million, a PE ratio of -7.96 and a beta of 0.76.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Zevia PBC had a negative net margin of 14.02% and a negative return on equity of 38.02%. The firm had revenue of $38.02 million for the quarter, compared to analyst estimates of $37.15 million. On average, sell-side analysts predict that Zevia PBC will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price objective on shares of Zevia PBC in a research note on Monday, May 5th.

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.