Zevia PBC (NYSE:ZVIA) Receives Consensus Rating of “Hold” from Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have earned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.4250.

Several research firms recently weighed in on ZVIA. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a report on Monday, April 20th. Telsey Advisory Group reduced their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 26th.

Zevia PBC Stock Performance

ZVIA opened at $1.56 on Friday. The business has a 50 day moving average price of $1.25 and a 200 day moving average price of $1.81. Zevia PBC has a twelve month low of $1.11 and a twelve month high of $3.66. The firm has a market cap of $119.70 million, a P/E ratio of -15.55 and a beta of 0.95.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $40.97 million. As a group, analysts anticipate that Zevia PBC will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Girish Satya sold 41,662 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 327,909 shares in the company, valued at approximately $386,932.62. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.11% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP lifted its holdings in Zevia PBC by 90.6% in the 3rd quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock worth $16,753,000 after purchasing an additional 2,928,382 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Zevia PBC in the 4th quarter worth approximately $4,864,000. Vanguard Group Inc. increased its position in Zevia PBC by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company’s stock worth $5,348,000 after buying an additional 89,810 shares during the period. Kanen Wealth Management LLC bought a new position in Zevia PBC in the 1st quarter worth approximately $1,462,000. Finally, Ghisallo Capital Management LLC increased its position in Zevia PBC by 265.1% in the 3rd quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $2,992,000 after buying an additional 798,700 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Zevia PBC Company 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.