Zevia PBC (NYSE:ZVIA) Receives $4.43 Consensus PT from Brokerages

Zevia PBC (NYSE:ZVIAGet Free Report) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $4.4250.

A number of equities analysts have recently commented on ZVIA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a report on Monday, April 20th. Telsey Advisory Group cut their price target on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 26th.

Check Out Our Latest Analysis on ZVIA

Insiders Place Their Bets

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of the transaction, the insider directly owned 11,400,428 shares of the company’s stock, valued at $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Girish Satya sold 41,662 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 327,909 shares of the company’s stock, valued at $386,932.62. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently made changes to their positions in the business. Divisadero Street Capital Management LP raised 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 worth $16,753,000 after buying an additional 2,928,382 shares in the last quarter. Ghisallo Capital Management LLC raised its position in shares of Zevia PBC by 265.1% in the third 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 in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Zevia PBC in the fourth quarter worth $4,864,000. Stoic Point Capital Management LLC purchased a new stake in shares of Zevia PBC in the first quarter worth $867,000. Finally, Renaissance Technologies LLC raised its position in shares of Zevia PBC by 33.3% in the first quarter. Renaissance Technologies LLC now owns 811,826 shares of the company’s stock worth $950,000 after buying an additional 203,000 shares in the last quarter. Hedge funds and other institutional investors own 53.21% of the company’s stock.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.53 on Tuesday. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The business has a fifty day moving average price of $1.37 and a 200-day moving average price of $1.64. The firm has a market capitalization of $117.39 million, a P/E ratio of -15.25 and a beta of 1.01.

Zevia PBC (NYSE:ZVIAGet Free Report) last posted its quarterly earnings results 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 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. Sell-side analysts expect that Zevia PBC will post -0.1 earnings per share for the current fiscal year.

About Zevia PBC

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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.

See Also

Analyst Recommendations for Zevia PBC (NYSE:ZVIA)

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