Zevia PBC (NYSE:ZVIA) Price Target Cut to $3.00 by Analysts at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA) had its price target dropped by Telsey Advisory Group from $4.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 31.29% from the stock’s previous close.

Separately, The Goldman Sachs Group upped their target price on shares of Zevia PBC from $1.15 to $3.75 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th.

Zevia PBC Trading Down 29.9 %

NYSE:ZVIA opened at $2.29 on Thursday. The stock has a market cap of $166.84 million, a price-to-earnings ratio of -6.01 and a beta of 0.65. The stock has a 50-day moving average price of $3.90 and a two-hundred day moving average price of $2.36. Zevia PBC has a 1 year low of $0.62 and a 1 year high of $4.99.

Insider Transactions at Zevia PBC

In related news, CEO Amy Taylor sold 11,479 shares of Zevia PBC stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $4.74, for a total value of $54,410.46. Following the sale, the chief executive officer now owns 1,002,773 shares of the company’s stock, valued at approximately $4,753,144.02. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rosemary L. Ripley sold 2,567,006 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1.90, for a total value of $4,877,311.40. Following the transaction, the director now directly owns 2,719,258 shares of the company’s stock, valued at $5,166,590.20. This trade represents a 48.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,582,464 shares of company stock valued at $4,950,344 in the last ninety days. 12.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of Zevia PBC by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 539,652 shares of the company’s stock valued at $2,262,000 after buying an additional 3,177 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Zevia PBC by 44.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company’s stock valued at $90,000 after acquiring an additional 6,610 shares during the last quarter. Wolverine Trading LLC bought a new position in shares of Zevia PBC in the 4th quarter valued at about $39,000. Stifel Financial Corp acquired a new position in shares of Zevia PBC during the 4th quarter worth about $42,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Zevia PBC in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

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.