Zevia PBC (NYSE:ZVIA) Receives Average Rating of “Hold” from Analysts

Zevia PBC (NYSE:ZVIA) has earned a consensus rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.4250.

A number of research firms have commented on ZVIA. Craig Hallum initiated coverage on Zevia PBC in a research note on Thursday, January 15th. They set a “buy” rating and a $4.00 price objective on the stock. Telsey Advisory Group decreased their price target on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Monday, April 20th.

Insider Activity

In other news, CFO Girish Satya sold 41,662 shares of Zevia PBC stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $1.18, for a total value of $49,161.16. Following the transaction, the chief financial officer owned 327,909 shares in the company, valued at approximately $386,932.62. This trade represents a 11.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.11% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

Several hedge funds and other institutional investors have recently modified their holdings of ZVIA. Bank of America Corp DE increased its stake 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 valued at $66,000 after purchasing an additional 15,280 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of 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 purchasing an additional 27,343 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Zevia PBC in the 1st quarter valued at $187,000. Geode Capital Management LLC increased its stake in shares of Zevia PBC by 66.5% in the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock valued at $3,006,000 after purchasing an additional 372,665 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Zevia PBC by 2,460.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock valued at $50,000 after purchasing an additional 14,912 shares during the last quarter. Institutional investors own 53.21% of the company’s stock.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.30 on Monday. The stock’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.90. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The firm has a market cap of $97.25 million, a PE ratio of -8.63 and a beta of 0.95.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%.The firm had revenue of $37.87 million for the quarter, compared to analyst estimates of $39.96 million. Sell-side analysts expect that Zevia PBC will post -0.06 earnings per share for the current fiscal year.

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.