Zevia PBC (NYSE:ZVIA) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Zevia PBC (NYSE:ZVIA) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $1.27 and traded as high as $1.44. Zevia PBC shares last traded at $1.3610, with a volume of 1,356,237 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ZVIA shares. Weiss Ratings raised Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Wall Street Zen cut Zevia PBC from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Zevia PBC presently has an average rating of “Hold” and an average price target of $4.50.

Zevia PBC Trading Up 13.4%

The company’s 50 day moving average is $1.27 and its 200 day moving average is $1.42. The company has a market cap of $105.27 million, a PE ratio of -11.34 and a beta of 0.96.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $48.34 million during the quarter, compared to analysts’ expectations of $44.80 million. Zevia PBC had a negative net margin of 4.79% and a negative return on equity of 15.21%. Analysts expect that Zevia PBC will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in shares of Zevia PBC by 41.1% in the 2nd quarter. Squarepoint Ops LLC now owns 769,655 shares of the company’s stock worth $1,255,000 after buying an additional 224,357 shares during the period. Ruggaard & Associates LLC bought a new position in shares of Zevia PBC during the 2nd quarter worth $28,000. Tocqueville Asset Management L.P. bought a new position in shares of Zevia PBC during the 2nd quarter worth $26,000. Kanen Wealth Management LLC bought a new position in shares of Zevia PBC during the 1st quarter worth $1,462,000. Finally, Stoic Point Capital Management LLC purchased a new position in shares of Zevia PBC during the first quarter valued at $867,000. Institutional investors own 53.21% of the company’s stock.

About Zevia PBC

Zevia PBC is a beverage company that develops and markets zero-sugar, zero-calorie drinks made without artificial sweeteners. Its portfolio is centered on Zevia Soda, a line of naturally sweetened carbonated soft drinks available in flavors such as cola, citrus, root beer and ginger ale.

The company also offers Zevia Energy drinks and other beverage products designed for consumers seeking alternatives to traditional soft drinks. Zevia products use plant-based sweeteners, including stevia, and are generally positioned as beverages with simple ingredients and no artificial colors.

Founded in 2007, Zevia sells its products primarily in the United States and Canada through grocery stores, mass merchants, warehouse clubs, natural and specialty retailers, convenience stores, online channels and food-service distributors.