De Depot Et Placement Caisse Sells 2,150,000 Shares of Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) major shareholder De Depot Et Placement Caisse sold 2,150,000 shares of Zevia PBC stock in a transaction 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 completion of the transaction, the insider directly owned 11,400,428 shares in the company, valued at $21,660,813.20. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Zevia PBC Trading Down 7.3%

Shares of Zevia PBC stock traded down $0.13 during trading on Thursday, reaching $1.60. The company’s stock had a trading volume of 1,347,753 shares, compared to its average volume of 819,766. The firm has a market cap of $122.78 million, a PE ratio of -15.95 and a beta of 0.95. The company has a 50-day moving average price of $1.29 and a two-hundred day moving average price of $1.79. Zevia PBC has a fifty-two week low of $1.11 and a fifty-two week high of $3.66.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $46.09 million for the quarter, compared to analysts’ expectations of $40.97 million. Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. On average, analysts predict that Zevia PBC will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZVIA has been the topic of several recent analyst reports. Telsey Advisory Group cut their price objective on shares of Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Zevia PBC currently has a consensus rating of “Hold” and a consensus price target of $4.43.

Institutional Trading of Zevia PBC

Hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in shares of Zevia PBC in the 4th quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Zevia PBC in the 4th quarter worth about $27,000. Engineers Gate Manager LP bought a new stake in shares of Zevia PBC in the 4th quarter worth about $28,000. SG Americas Securities LLC bought a new stake in shares of Zevia PBC in the 4th quarter worth about $31,000. Finally, R Squared Ltd bought a new stake in shares of Zevia PBC in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 53.21% of the company’s stock.

Zevia PBC Company Profile

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.