Stoic Point Capital Management LLC Makes New $867,000 Investment in Zevia PBC $ZVIA

Stoic Point Capital Management LLC purchased a new stake in Zevia PBC (NYSE:ZVIA) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 741,168 shares of the company’s stock, valued at approximately $867,000. Zevia PBC comprises approximately 0.8% of Stoic Point Capital Management LLC’s portfolio, making the stock its 21st biggest position. Stoic Point Capital Management LLC owned 0.96% of Zevia PBC as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ZVIA. Bank of America Corp DE grew 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 worth $66,000 after purchasing an additional 15,280 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Zevia PBC by 52.7% during the first 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 acquired a new stake in Zevia PBC during the first quarter valued at approximately $187,000. Geode Capital Management LLC boosted its holdings in Zevia PBC by 66.5% during the second quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after buying an additional 372,665 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Zevia PBC by 2,460.7% during the second quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock worth $50,000 after buying an additional 14,912 shares in the last quarter. Institutional investors own 53.21% of the company’s stock.

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 report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Zevia PBC currently has an average rating of “Hold” and a consensus target price of $4.42.

Insider Transactions at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the transaction, the insider directly owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. This represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.70% of the stock is currently owned by insiders.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.59 on Wednesday. The firm’s 50 day simple moving average is $1.57 and its 200-day simple moving average is $1.50. The company has a market cap of $122.78 million, a P/E ratio of -15.95 and a beta of 1.00. Zevia PBC has a fifty-two week low of $1.11 and a fifty-two week high of $3.63.

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

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.