Zevia PBC (NYSE:ZVIA) Receives $4.42 Average Price Target from Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.4250.

Separately, Weiss Ratings downgraded Zevia PBC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 24th.

Zevia PBC Trading Down 4.8%

Shares of ZVIA opened at $1.68 on Friday. The company’s fifty day simple moving average is $1.53 and its 200-day simple moving average is $1.53. The company has a market cap of $128.94 million, a P/E ratio of -16.75 and a beta of 1.00. Zevia PBC has a twelve month low of $1.11 and a twelve month high of $3.63.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $46.09 million for the quarter, compared to the consensus estimate of $40.97 million. Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. Analysts predict that Zevia PBC will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the transaction, the insider directly owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Zevia PBC

Large investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in Zevia PBC in the fourth quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Zevia PBC during the fourth quarter valued at approximately $27,000. Engineers Gate Manager LP purchased a new position in Zevia PBC during the fourth quarter valued at approximately $28,000. SG Americas Securities LLC bought a new position in Zevia PBC in the fourth quarter worth approximately $31,000. Finally, The Manufacturers Life Insurance Company bought a new position in Zevia PBC in the fourth quarter worth approximately $38,000. Hedge funds and other 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.