Zevia PBC (NYSE:ZVIA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Zevia PBC (NYSE:ZVIA) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.

Zevia PBC Price Performance

Shares of NYSE:ZVIA opened at $1.26 on Friday. The company’s 50-day moving average price is $1.27 and its two-hundred day moving average price is $1.42. Zevia PBC has a one year low of $1.11 and a one year high of $2.78. The stock has a market capitalization of $97.85 million, a PE ratio of -10.54 and a beta of 0.96.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $48.34 million during the quarter, compared to analysts’ expectations of $44.80 million. Zevia PBC had a negative return on equity of 15.21% and a negative net margin of 4.79%. On average, analysts anticipate that Zevia PBC will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors have recently made changes to their positions in the company. Stoic Point Capital Management LLC raised its stake in Zevia PBC by 1.5% in the third quarter. Stoic Point Capital Management LLC now owns 1,151,715 shares of the company’s stock valued at $1,359,000 after purchasing an additional 16,751 shares in the last quarter. R Squared Ltd bought a new stake in Zevia PBC during the third quarter worth about $44,000. Squarepoint Ops LLC grew its stake in Zevia PBC by 41.1% during the second quarter. Squarepoint Ops LLC now owns 769,655 shares of the company’s stock worth $1,255,000 after buying an additional 224,357 shares in the last quarter. Ruggaard & Associates LLC acquired a new stake in Zevia PBC during the second quarter worth about $28,000. Finally, Tocqueville Asset Management L.P. bought a new position in Zevia PBC in the 2nd quarter valued at about $26,000. Institutional investors own 53.21% of the company’s stock.

About Zevia PBC

Zevia PBC is a beverage company that develops and markets zero-sugar, zero-calorie drinks made without artificial sweeteners. Its portfolio is centered on Zevia Soda, a line of naturally sweetened carbonated soft drinks available in flavors such as cola, citrus, root beer and ginger ale.

The company also offers Zevia Energy drinks and other beverage products designed for consumers seeking alternatives to traditional soft drinks. Zevia products use plant-based sweeteners, including stevia, and are generally positioned as beverages with simple ingredients and no artificial colors.

Founded in 2007, Zevia sells its products primarily in the United States and Canada through grocery stores, mass merchants, warehouse clubs, natural and specialty retailers, convenience stores, online channels and food-service distributors.