1,250,000 Shares in Zevia PBC $ZVIA Bought by Kanen Wealth Management LLC

Kanen Wealth Management LLC purchased a new position in shares of Zevia PBC (NYSE:ZVIA) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,250,000 shares of the company’s stock, valued at approximately $1,462,000. Zevia PBC accounts for approximately 0.5% of Kanen Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in Zevia PBC in the 4th quarter valued at $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Zevia PBC in the 4th quarter worth $27,000. Engineers Gate Manager LP acquired a new stake in shares of Zevia PBC in the 4th quarter worth $28,000. SG Americas Securities LLC purchased a new stake in shares of Zevia PBC in the fourth quarter valued at about $31,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Zevia PBC in the fourth quarter valued at about $38,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Zevia PBC Trading Up 0.9%

Shares of ZVIA stock opened at $1.59 on Wednesday. The stock has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.50. The company has a market cap of $122.78 million, a price-to-earnings ratio of -15.95 and a beta of 1.00. Zevia PBC has a 12-month low of $1.11 and a 12-month high of $3.63.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 17th. Three equities 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. According to data from MarketBeat.com, Zevia PBC has an average rating of “Hold” and an average price target of $4.42.

Insider Transactions at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of the sale, the insider owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Zevia PBC 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.