Zevia PBC (NYSE:ZVIA) Receives $4.68 Average Target Price from Analysts

Shares of Zevia PBC (NYSE:ZVIA) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.6750.

A number of brokerages recently issued reports on ZVIA. Telsey Advisory Group reiterated an “outperform” rating and issued a $6.00 price objective on shares of Zevia PBC in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Zacks Research cut Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Craig Hallum initiated coverage on Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target on the stock.

Zevia PBC Stock Up 3.5%

Shares of NYSE:ZVIA opened at $1.63 on Wednesday. The company has a 50-day moving average price of $2.07 and a two-hundred day moving average price of $2.44. The firm has a market capitalization of $121.88 million, a PE ratio of -7.39 and a beta of 0.86. Zevia PBC has a twelve month low of $1.55 and a twelve month high of $3.70.

Insider Activity at Zevia PBC

In other news, 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 transaction of $7,000,000.00. Following the sale, the insider directly owned 13,550,428 shares in the company, valued at $27,100,856. This trade represents a 20.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZVIA. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Zevia PBC in the 2nd quarter valued at $25,000. 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. SG Americas Securities LLC acquired a new position in shares of Zevia PBC in the fourth quarter worth about $31,000. R Squared Ltd acquired a new stake in Zevia PBC in the third quarter valued at approximately $36,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Zevia PBC by 2,460.7% during the second quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock worth $50,000 after purchasing an additional 14,912 shares in the last quarter. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.