Silvercrest Asset Management Group LLC Increases Position in Zevia PBC (NYSE:ZVIA)

Silvercrest Asset Management Group LLC boosted its holdings in Zevia PBC (NYSE:ZVIA) by 87.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,323,885 shares of the company’s stock after purchasing an additional 616,244 shares during the period. Silvercrest Asset Management Group LLC owned about 1.81% of Zevia PBC worth $5,547,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of Zevia PBC in the 4th quarter valued at approximately $42,000. Schonfeld Strategic Advisors LLC acquired a new stake in Zevia PBC in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. bought a new position in Zevia PBC during the 4th quarter valued at $57,000. Abacus Planning Group Inc. acquired a new position in Zevia PBC during the 4th quarter worth $57,000. Finally, Bank of America Corp DE increased its position in shares of 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 worth $66,000 after purchasing an additional 15,280 shares during the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

Zevia PBC Trading Up 4.0%

ZVIA stock opened at $3.03 on Monday. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.86. Zevia PBC has a 12-month low of $0.62 and a 12-month high of $4.99. The firm has a market cap of $222.36 million, a P/E ratio of -7.96 and a beta of 0.76.

Zevia PBC (NYSE:ZVIA) last issued its earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Zevia PBC had a negative net margin of 14.02% and a negative return on equity of 38.02%. The company had revenue of $38.02 million for the quarter, compared to analysts’ expectations of $37.15 million. On average, research analysts forecast that Zevia PBC will post -0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 price target on shares of Zevia PBC in a research note on Monday, May 5th.

Zevia PBC Company Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.