Zevia PBC (NYSE:ZVIA) CFO Sells $49,161.16 in Stock

Zevia PBC (NYSE:ZVIA) CFO Girish Satya sold 41,662 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total value of $49,161.16. Following the transaction, the chief financial officer owned 327,909 shares in the company, 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 can be accessed through the SEC website.

Zevia PBC Trading Up 5.8%

Shares of NYSE:ZVIA opened at $1.20 on Tuesday. The firm has a market cap of $89.74 million, a price-to-earnings ratio of -7.97 and a beta of 0.90. The stock’s 50-day moving average price is $1.54 and its two-hundred day moving average price is $2.10. Zevia PBC has a 12-month low of $1.11 and a 12-month high of $3.66.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $37.87 million during the quarter, compared to the consensus estimate of $39.96 million. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.49%. As a group, research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Zevia PBC

A number of institutional investors have recently modified their holdings of ZVIA. Virtu Financial LLC acquired a new stake in Zevia PBC during the 4th quarter worth approximately $66,000. Quadrature Capital Ltd acquired a new position in Zevia PBC during the fourth quarter valued at approximately $26,000. Millennium Management LLC purchased a new stake in Zevia PBC during the fourth quarter worth approximately $149,000. Engineers Gate Manager LP purchased a new stake in Zevia PBC during the fourth quarter worth approximately $28,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Zevia PBC by 73.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 191,700 shares of the company’s stock worth $445,000 after acquiring an additional 81,100 shares in the last quarter. Hedge funds and other institutional investors own 53.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ZVIA shares. Craig Hallum started coverage on shares of Zevia PBC in a research note on Thursday, January 15th. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Finally, Telsey Advisory Group dropped their price objective on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.43.

About Zevia PBC

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.