De Depot Et Placement Caisse Sells 2,971,664 Shares of Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) major shareholder De Depot Et Placement Caisse sold 2,971,664 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $2.73, for a total value of $8,112,642.72. Following the transaction, the insider owned 17,050,428 shares in the company, valued at $46,547,668.44. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Zevia PBC Trading Down 8.0%

NYSE ZVIA traded down $0.17 during trading hours on Wednesday, hitting $1.90. The company’s stock had a trading volume of 983,594 shares, compared to its average volume of 1,386,977. The company has a market capitalization of $142.13 million, a PE ratio of -8.61 and a beta of 0.87. Zevia PBC has a 52 week low of $1.65 and a 52 week high of $4.51. The company’s 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $2.56.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, November 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%.The company had revenue of $40.84 million during the quarter, compared to analyst estimates of $39.33 million. Research analysts anticipate that Zevia PBC will post -0.32 EPS for the current fiscal year.

Institutional Trading of Zevia PBC

Several institutional investors have recently bought and sold shares of ZVIA. Bank of America Corp DE raised its stake in Zevia PBC by 2,845.4% during the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock worth $66,000 after acquiring an additional 15,280 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of Zevia PBC by 52.7% in the first quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock worth $171,000 after purchasing an additional 27,343 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zevia PBC in the first quarter worth $187,000. Tectonic Advisors LLC bought a new stake in shares of Zevia PBC during the 2nd quarter valued at $315,000. Finally, Emerald Advisers LLC lifted its stake in shares of Zevia PBC by 42.9% during the 2nd quarter. Emerald Advisers LLC now owns 129,857 shares of the company’s stock valued at $418,000 after buying an additional 38,986 shares in the last quarter. 53.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZVIA shares. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 target price on shares of Zevia PBC in a report on Wednesday, January 14th. Zacks Research cut shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a report on Wednesday, January 21st. Finally, Craig Hallum began coverage on Zevia PBC in a report on Thursday, January 15th. They set a “buy” rating and a $4.00 price target on the stock. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.68.

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.