Zevia PBC (NYSE:ZVIA) Director Sells $37,026.00 in Stock

Zevia PBC (NYSE:ZVIA) Director Padraic L. Spence sold 36,300 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total value 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 approximately $1,751,584.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Zevia PBC Stock Up 10.5 %

NYSE:ZVIA opened at $1.16 on Friday. The business’s 50 day moving average is $1.48 and its two-hundred day moving average is $1.85. Zevia PBC has a 52 week low of $0.98 and a 52 week high of $4.80. The company has a market cap of $83.35 million, a PE ratio of -2.76 and a beta of 0.61.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $37.79 million for the quarter, compared to analyst estimates of $37.75 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 previous year, the company posted ($0.10) earnings per share. As a group, sell-side analysts expect that Zevia PBC will post -0.32 EPS for the current fiscal year.

Institutional Trading of Zevia PBC

A number of institutional investors and hedge funds have recently made changes to their positions in ZVIA. Bank of New York Mellon Corp raised its position in shares of Zevia PBC by 23.3% during the 1st quarter. Bank of New York Mellon Corp now owns 31,328 shares of the company’s stock worth $144,000 after purchasing an additional 5,929 shares during the period. BlackRock Inc. raised its position in shares of Zevia PBC by 3.6% during the 1st quarter. BlackRock Inc. now owns 499,708 shares of the company’s stock worth $2,284,000 after purchasing an additional 17,394 shares during the period. Vanguard Group Inc. increased its position in Zevia PBC by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 533,976 shares of the company’s stock valued at $2,441,000 after acquiring an additional 7,077 shares during the period. Penserra Capital Management LLC increased its position in Zevia PBC by 70.0% in the 1st quarter. Penserra Capital Management LLC now owns 13,296 shares of the company’s stock valued at $60,000 after acquiring an additional 5,476 shares during the period. Finally, Renaissance Technologies LLC increased its position in Zevia PBC by 92.8% in the 1st quarter. Renaissance Technologies LLC now owns 158,297 shares of the company’s stock valued at $723,000 after acquiring an additional 76,174 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ZVIA. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 target price on shares of Zevia PBC in a report on Wednesday, February 21st. Morgan Stanley reduced their target price on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.17.

Zevia PBC Company Profile

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.