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

Shares of Zevia PBC (NYSE:ZVIA) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.4250.

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a report on Wednesday, January 21st. Craig Hallum began coverage on Zevia PBC in a report on Thursday, January 15th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, Telsey Advisory Group cut their price objective on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th.

Zevia PBC Stock Performance

Shares of ZVIA stock opened at $1.18 on Thursday. The stock’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $2.04. The company has a market cap of $88.24 million, a PE ratio of -7.83 and a beta of 0.93. Zevia PBC has a fifty-two week low of $1.11 and a fifty-two week high of $3.66.

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

Insider Buying and Selling at Zevia PBC

In related news, CFO Girish Satya sold 41,662 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total transaction of $49,161.16. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total value of $7,000,000.00. Following the sale, the insider directly owned 13,550,428 shares in the company, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 11.11% of the company’s stock.

Institutional Trading of Zevia PBC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZVIA. Bank of America Corp DE increased its position in Zevia PBC by 2,845.4% in the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after buying an additional 15,280 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Zevia PBC by 52.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock valued at $171,000 after buying an additional 27,343 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Zevia PBC during the 1st quarter worth approximately $187,000. Geode Capital Management LLC increased its holdings in Zevia PBC by 66.5% during the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after purchasing an additional 372,665 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Zevia PBC during the 2nd quarter worth approximately $51,000. 53.21% of the stock is owned by institutional investors.

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.