Brokerages Set Zevia PBC (NYSE:ZVIA) PT at $4.43

Shares of Zevia PBC (NYSE:ZVIA) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $4.4250.

ZVIA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Telsey Advisory Group reduced their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Craig Hallum initiated coverage on Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target on the stock.

Insider Activity at Zevia PBC

In other Zevia PBC news, CFO Girish Satya sold 41,662 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $1.18, for a total transaction of $49,161.16. Following the transaction, the chief financial officer owned 327,909 shares of the company’s stock, valued at $386,932.62. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of Zevia PBC stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the completion of the transaction, the insider owned 13,550,428 shares in the company, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.11% of the stock is currently owned by company insiders.

Institutional Trading of Zevia PBC

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Zevia PBC in the 4th quarter worth $66,000. Quadrature Capital Ltd acquired a new stake in Zevia PBC during the fourth quarter worth about $26,000. Millennium Management LLC purchased a new position in shares of Zevia PBC in the 4th quarter worth about $149,000. Engineers Gate Manager LP purchased a new position in shares of Zevia PBC in the 4th quarter worth about $28,000. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Zevia PBC by 73.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 191,700 shares of the company’s stock valued at $445,000 after purchasing an additional 81,100 shares in the last quarter. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Zevia PBC Price Performance

NYSE:ZVIA opened at $1.20 on Thursday. The company has a 50 day moving average price of $1.48 and a 200-day moving average price of $2.07. The firm has a market cap of $89.74 million, a price-to-earnings ratio of -7.97 and a beta of 0.93. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.66.

Zevia PBC (NYSE:ZVIA) last announced its earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $37.87 million for the quarter, compared to analyst estimates of $39.96 million. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.49%. On average, sell-side analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

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.