Zevia PBC (NYSE:ZVIA) Research Coverage Started at Craig Hallum

Craig Hallum assumed coverage on shares of Zevia PBC (NYSE:ZVIA) in a report published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $4.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. Zacks Research cut Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 target price on shares of Zevia PBC in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.68.

Zevia PBC Stock Performance

NYSE:ZVIA opened at $1.92 on Thursday. The company has a market capitalization of $144 million, a P/E ratio of -8.73 and a beta of 0.87. The stock’s 50 day moving average price is $2.40 and its 200 day moving average price is $2.62. Zevia PBC has a 52 week low of $1.66 and a 52 week high of $4.99.

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

Hedge Funds Weigh In On Zevia PBC

Institutional investors and hedge funds have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in Zevia PBC in the 2nd quarter valued at $25,000. SG Americas Securities LLC acquired a new position in shares of Zevia PBC during the fourth quarter valued at about $31,000. R Squared Ltd bought a new stake in shares of Zevia PBC in the third quarter valued at about $36,000. DKM Wealth Management Inc. acquired a new stake in Zevia PBC during the second quarter worth about $42,000. Finally, Tocqueville Asset Management L.P. bought a new position in Zevia PBC during the third quarter valued at about $44,000. Institutional investors own 53.21% of the company’s stock.

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.