Zevia PBC (NYSE:ZVIA) Releases Earnings Results, Misses Expectations By $0.01 EPS

Zevia PBC (NYSE:ZVIA) posted its earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01), FiscalAI reports. The company had revenue of $45.00 million during the quarter, compared to analyst estimates of $44.21 million. Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%.

Zevia PBC Stock Performance

Shares of ZVIA stock traded down $0.01 during trading hours on Wednesday, hitting $1.72. 360,373 shares of the company were exchanged, compared to its average volume of 865,145. The stock has a market capitalization of $132.02 million, a price-to-earnings ratio of -17.15 and a beta of 0.99. Zevia PBC has a one year low of $1.11 and a one year high of $3.63. The business’s 50-day simple moving average is $1.57 and its two-hundred day simple moving average is $1.49.

Insider Transactions at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the transaction, the insider 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in Zevia PBC in the second quarter worth $92,000. CreativeOne Wealth LLC raised its holdings in shares of Zevia PBC by 45.4% during the third quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock worth $77,000 after purchasing an additional 8,787 shares during the period. Invesco Ltd. bought a new position in shares of Zevia PBC in the 2nd quarter worth about $74,000. Virtu Financial LLC bought a new position in shares of Zevia PBC in the 4th quarter worth about $66,000. Finally, Bank of America Corp DE boosted its holdings 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 valued at $66,000 after buying an additional 15,280 shares during the period. 53.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised 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 given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.42.

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.