Zevia PBC (NYSE:ZVIA) Raised to “Hold” at Wall Street Zen

Zevia PBC (NYSE:ZVIA) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.50.

Zevia PBC Stock Down 0.3%

Shares of Zevia PBC stock opened at $1.49 on Friday. Zevia PBC has a 12-month low of $1.11 and a 12-month high of $2.78. The stock has a market cap of $114.86 million, a P/E ratio of -12.37 and a beta of 0.96. The business’s 50 day moving average is $1.27 and its 200-day moving average is $1.42.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The business 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 15.45%. On average, sell-side analysts expect that Zevia PBC will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ZVIA. Kanen Wealth Management LLC bought a new position in Zevia PBC during the first quarter worth $1,462,000. Squarepoint Ops LLC increased its holdings in shares of Zevia PBC by 41.1% in the second quarter. Squarepoint Ops LLC now owns 769,655 shares of the company’s stock valued at $1,255,000 after purchasing an additional 224,357 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Zevia PBC by 33.3% in the first quarter. Renaissance Technologies LLC now owns 811,826 shares of the company’s stock valued at $950,000 after purchasing an additional 203,000 shares during the period. Stoic Point Capital Management LLC bought a new position in shares of Zevia PBC in the first quarter valued at about $867,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Zevia PBC by 12.9% during the 1st quarter. Bank of New York Mellon Corp now owns 112,370 shares of the company’s stock worth $131,000 after buying an additional 12,844 shares during the last quarter. 53.21% of the stock is owned by institutional investors and hedge funds.

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.