Zevia PBC (NYSE:ZVIA) Releases Quarterly Earnings Results, Meets Estimates

Zevia PBC (NYSE:ZVIA) announced its quarterly earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10), Zacks reports. The business had revenue of $38.80 million during the quarter, compared to the consensus estimate of $39.82 million. Zevia PBC had a negative return on equity of 29.55% and a negative net margin of 12.91%. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Zevia PBC updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Zevia PBC Stock Up 1.7 %

Shares of NYSE ZVIA traded up $0.01 during trading on Thursday, reaching $0.87. 158,782 shares of the company traded hands, compared to its average volume of 162,333. The stock has a market capitalization of $62.52 million, a PE ratio of -2.07 and a beta of 0.66. The firm has a 50 day simple moving average of $1.10 and a 200-day simple moving average of $1.60. Zevia PBC has a 52-week low of $0.78 and a 52-week high of $4.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ZVIA shares. Wells Fargo & Company reduced their target price on Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating for the company in a report on Thursday. Telsey Advisory Group decreased their price objective on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating for the company in a report on Thursday. Morgan Stanley decreased their price objective on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group dropped their price target on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $3.21.

Insiders Place Their Bets

In related news, Director Padraic L. Spence sold 36,300 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total transaction of $37,026.00. Following the completion of the transaction, the director now directly owns 1,717,240 shares of the company’s stock, valued at $1,751,584.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zevia PBC news, CEO Amy Taylor sold 30,703 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $1.02, for a total value of $31,317.06. Following the completion of the sale, the chief executive officer now directly owns 959,252 shares in the company, valued at $978,437.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Padraic L. Spence sold 36,300 shares of Zevia PBC stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total value of $37,026.00. Following the sale, the director now directly owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,937 shares of company stock worth $114,160. Company insiders own 12.55% of the company’s stock.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.