Zevia PBC’s (ZVIA) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Zevia PBC (NYSE:ZVIA) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

A number of other brokerages have also recently weighed in on ZVIA. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Zacks Research lowered Zevia PBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Zevia PBC currently has a consensus rating of “Hold” and an average target price of $4.68.

Zevia PBC Stock Up 1.1%

Shares of ZVIA stock opened at $1.92 on Wednesday. The stock has a market cap of $144 million, a P/E ratio of -8.73 and a beta of 0.87. Zevia PBC has a fifty-two week low of $1.66 and a fifty-two week high of $4.99. The business has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $2.62.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $40.84 million for the quarter, compared to analysts’ expectations of $39.33 million. Zevia PBC had a negative net margin of 8.83% and a negative return on equity of 30.61%. On average, sell-side analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current year.

Institutional Trading of Zevia PBC

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Zevia PBC in the 4th quarter worth approximately $31,000. CIBC Bancorp USA Inc. purchased a new position in shares of Zevia PBC during the 3rd quarter worth $491,000. Qube Research & Technologies Ltd acquired a new stake in shares of Zevia PBC during the third quarter worth $323,000. Focus Partners Wealth boosted its holdings in shares of Zevia PBC by 100.0% during the third quarter. Focus Partners Wealth now owns 285,892 shares of the company’s stock worth $778,000 after purchasing an additional 142,958 shares during the last quarter. Finally, Divisadero Street Capital Management LP grew its position in shares of Zevia PBC by 90.6% in the third quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock valued at $16,753,000 after purchasing an additional 2,928,382 shares during the period. Institutional investors and hedge funds own 53.21% of the company’s stock.

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.