Zevia PBC (NYSE:ZVIA) Given Average Rating of “Hold” by Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.90.

Several equities analysts have recently weighed in on ZVIA shares. Wall Street Zen downgraded shares of Zevia PBC from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings raised shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 17th.

Zevia PBC Stock Down 4.2%

NYSE:ZVIA opened at $1.38 on Thursday. Zevia PBC has a 52 week low of $1.11 and a 52 week high of $3.38. The stock’s 50-day moving average price is $1.56 and its 200-day moving average price is $1.48. The stock has a market capitalization of $106.23 million, a PE ratio of -10.62 and a beta of 0.99.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $45.00 million during the quarter, compared to analysts’ expectations of $44.21 million. Zevia PBC had a negative return on equity of 16.92% and a negative net margin of 5.34%. Sell-side analysts expect that Zevia PBC will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was 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 of the company’s stock, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

A number of hedge funds have recently modified their holdings of ZVIA. Jefferies Financial Group Inc. purchased a new stake in shares of Zevia PBC in the 4th quarter valued at approximately $4,864,000. Kanen Wealth Management LLC purchased a new stake in shares of Zevia PBC during the 1st quarter valued at approximately $1,462,000. Stoic Point Capital Management LLC acquired a new position in Zevia PBC in the first quarter valued at approximately $867,000. Jacobs Levy Equity Management Inc. lifted its holdings in Zevia PBC by 382.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 527,498 shares of the company’s stock valued at $1,224,000 after acquiring an additional 418,077 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Zevia PBC by 66.5% in the second quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after acquiring an additional 372,665 shares during the period. 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.