Zevia PBC (NYSE:ZVIA) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Zevia PBC (NYSE:ZVIA) released its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01), FiscalAI reports. The company had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $44.21 million. Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%.

Zevia PBC Stock Down 0.9%

Shares of ZVIA traded down $0.01 during mid-day trading on Wednesday, hitting $1.72. 318,060 shares of the company traded hands, compared to its average volume of 865,024. The company has a market capitalization of $132.02 million, a PE ratio of -17.15 and a beta of 0.99. The business has a 50 day moving average of $1.57 and a 200 day moving average of $1.49. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.63.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.42.

Insiders Place Their Bets

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the transaction, the insider owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. This represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

A number of large investors have recently made changes to their positions in ZVIA. Quadrature Capital Ltd acquired a new position in shares of Zevia PBC in the 4th quarter valued at $26,000. Engineers Gate Manager LP acquired a new stake in Zevia PBC during the 4th quarter worth about $28,000. The Manufacturers Life Insurance Company purchased a new stake in Zevia PBC during the 4th quarter valued at about $38,000. Tocqueville Asset Management L.P. purchased a new stake in Zevia PBC in the third quarter valued at approximately $44,000. Finally, JPMorgan Chase & Co. boosted its position in Zevia PBC by 2,460.7% in 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. 53.21% of the stock is owned by hedge funds and other 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.