Zevia PBC (NYSE:ZVIA) Receives Average Recommendation of “Hold” from Brokerages

Zevia PBC (NYSE:ZVIA) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.4250.

Separately, Weiss Ratings upgraded shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 17th.

Zevia PBC Trading Down 0.9%

ZVIA stock opened at $1.72 on Thursday. The company has a market capitalization of $132.02 million, a P/E ratio of -17.15 and a beta of 0.99. The business has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.49. Zevia PBC has a twelve month low of $1.11 and a twelve month high of $3.63.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. The business had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $44.21 million. Research analysts predict that Zevia PBC will post -0.1 EPS for the current fiscal year.

Insider Activity at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of the sale, the insider directly owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its holdings in shares of Zevia PBC by 6.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 131,042 shares of the company’s stock valued at $303,000 after purchasing an additional 8,237 shares during the period. CreativeOne Wealth LLC raised its stake in shares of Zevia PBC by 45.4% during the third quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock worth $77,000 after purchasing an additional 8,787 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Zevia PBC during the fourth quarter worth $26,000. Engineers Gate Manager LP acquired a new stake in shares of Zevia PBC during the fourth quarter worth $28,000. Finally, Bank of New York Mellon Corp grew its position in 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 valued at $131,000 after buying an additional 12,844 shares during the last quarter. Hedge funds and other institutional investors own 53.21% of the company’s stock.

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.