Zevia PBC (NYSE:ZVIA) Given Average Recommendation of “Hold” by Brokerages

Shares of Zevia PBC (NYSE:ZVIA) have been assigned an average rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.4250.

Separately, Weiss Ratings downgraded Zevia PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th.

Zevia PBC Stock Down 2.3%

Shares of ZVIA traded down $0.04 during mid-day trading on Friday, reaching $1.73. 480,826 shares of the company’s stock were exchanged, compared to its average volume of 1,436,944. Zevia PBC has a 52-week low of $1.11 and a 52-week high of $3.63. The company has a market cap of $133.10 million, a price-to-earnings ratio of -17.29 and a beta of 1.00. The company has a 50-day simple moving average of $1.49 and a two-hundred day simple moving average of $1.55.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $40.97 million. As a group, equities research analysts predict that Zevia PBC will post -0.1 EPS for the current fiscal year.

Insider Activity at Zevia PBC

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the company’s stock in a transaction dated 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 directly owned 11,400,428 shares in the company, valued at $21,660,813.20. This represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in Zevia PBC in the fourth quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Zevia PBC during the 4th quarter valued at approximately $27,000. Engineers Gate Manager LP acquired a new stake in shares of Zevia PBC during the fourth quarter worth $28,000. SG Americas Securities LLC bought a new position in Zevia PBC in the fourth quarter worth about $31,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Zevia PBC in the 4th quarter worth approximately $38,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

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.