Zevia PBC (NYSE:ZVIA – Get Free Report) shares rose 4.1% during trading on Thursday . The stock traded as high as $1.39 and last traded at $1.3850. 351,915 shares were traded during trading, a decline of 7% from the average daily volume of 379,830 shares. The stock had previously closed at $1.33.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Zevia PBC from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Zevia PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.50.
Check Out Our Latest Stock Report on ZVIA
Zevia PBC Stock Up 2.5%
Zevia PBC (NYSE:ZVIA – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Zevia PBC had a negative return on equity of 16.92% and a negative net margin of 5.34%.The business had revenue of $45.00 million for the quarter, compared to the consensus estimate of $44.21 million. Analysts expect that Zevia PBC will post -0.13 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Zevia PBC
A number of hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. acquired a new stake in shares of Zevia PBC during the fourth quarter worth $4,864,000. Kanen Wealth Management LLC bought a new stake in Zevia PBC in the first quarter valued at about $1,462,000. Stoic Point Capital Management LLC acquired a new position in Zevia PBC in the first quarter valued at about $867,000. Squarepoint Ops LLC lifted its stake in Zevia PBC by 41.1% in the second quarter. Squarepoint Ops LLC now owns 769,655 shares of the company’s stock valued at $1,255,000 after buying an additional 224,357 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Zevia PBC by 33.3% during 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 during the last quarter. Institutional investors own 53.21% of the company’s stock.
Zevia PBC Company Profile
Zevia PBC (NYSE:ZVIA) is a beverage company focused on zero-sugar, naturally sweetened products. Its portfolio is built around beverages made without sugar, artificial sweeteners, or artificial colors, and uses plant-based sweeteners such as stevia.
The company’s products include Zevia sodas in a range of traditional and fruit-inspired flavors, as well as energy drinks, sparkling water, and beverages formulated for children. Zevia products are marketed as alternatives to conventional soft drinks and are sold through grocery, convenience, mass retail, club, e-commerce, and other channels.
Zevia was founded in 2007 and became a publicly traded company in 2021.
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