Wall Street Zen Downgrades Zevia PBC (NYSE:ZVIA) to Sell

Zevia PBC (NYSE:ZVIA) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

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. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.90.

Zevia PBC Trading Up 0.3%

ZVIA opened at $1.45 on Friday. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.54. The stock’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.48. The stock has a market cap of $111.24 million, a PE ratio of -11.12 and a beta of 0.99.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Zevia PBC had a negative net margin of 5.34% and a negative return on equity of 16.92%. The firm had revenue of $45.00 million during the quarter, compared to analysts’ expectations of $44.21 million. Equities analysts forecast that Zevia PBC will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of Zevia PBC stock in a transaction 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 completion of the sale, the insider owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Zevia PBC

Several institutional investors and hedge funds have recently modified their holdings of ZVIA. Bank of America Corp DE raised its stake in 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 worth $66,000 after purchasing an additional 15,280 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Zevia PBC by 52.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock worth $171,000 after purchasing an additional 27,343 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Zevia PBC during the 1st quarter worth approximately $187,000. Geode Capital Management LLC grew its position in shares of Zevia PBC by 66.5% during the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after purchasing an additional 372,665 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Zevia PBC by 2,460.7% during the second quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock worth $50,000 after purchasing an additional 14,912 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Zevia PBC Company Profile

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.