Zevia PBC (NYSE:ZVIA) Shares Up 4.1% – Time to Buy?

Zevia PBC (NYSE:ZVIA) shares were up 4.1% during mid-day trading on Thursday . The company traded as high as $1.39 and last traded at $1.3850. Approximately 351,915 shares traded hands during trading, a decline of 7% from the average daily volume of 379,830 shares. The stock had previously closed at $1.33.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZVIA shares. Wall Street Zen lowered Zevia PBC from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Zevia PBC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zevia PBC presently has a consensus rating of “Hold” and an average target price of $4.50.

Zevia PBC Stock Performance

The stock has a market capitalization of $107.13 million, a P/E ratio of -10.65 and a beta of 0.96. The stock has a 50 day moving average of $1.47 and a 200 day moving average of $1.41.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Zevia PBC had a negative return on equity of 16.92% and a negative net margin of 5.34%.The company had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $44.21 million. On average, research analysts anticipate that Zevia PBC will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZVIA. Tocqueville Asset Management L.P. acquired a new position in Zevia PBC during the 2nd quarter valued at about $26,000. Ruggaard & Associates LLC acquired a new stake in shares of Zevia PBC in the second quarter valued at approximately $28,000. Sei Investments Co. bought a new stake in shares of Zevia PBC during the first quarter valued at approximately $86,000. Bank of New York Mellon Corp raised its holdings in shares of Zevia PBC by 12.9% during the first quarter. Bank of New York Mellon Corp now owns 112,370 shares of the company’s stock valued at $131,000 after buying an additional 12,844 shares during the last quarter. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Zevia PBC during the first quarter worth approximately $867,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Company Profile

Zevia PBC (NYSE:ZVIA) is a beverage company focused on zero-sugar, naturally sweetened products. Its portfolio is built around beverages made without sugar, artificial sweeteners, or artificial colors, and uses plant-based sweeteners such as stevia.

The company’s products include Zevia sodas in a range of traditional and fruit-inspired flavors, as well as energy drinks, sparkling water, and beverages formulated for children. Zevia products are marketed as alternatives to conventional soft drinks and are sold through grocery, convenience, mass retail, club, e-commerce, and other channels.

Zevia was founded in 2007 and became a publicly traded company in 2021.