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

Shares of Zevia PBC (NYSE:ZVIA) have received a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $4.17.

A number of research firms recently commented on ZVIA. Morgan Stanley lowered their target price on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective on shares of Zevia PBC in a research report on Wednesday, February 21st.

Zevia PBC Trading Up 10.5 %

Shares of NYSE ZVIA opened at $1.16 on Friday. Zevia PBC has a 12-month low of $0.98 and a 12-month high of $4.80. The stock’s fifty day simple moving average is $1.48 and its two-hundred day simple moving average is $1.85. The stock has a market capitalization of $83.35 million, a PE ratio of -2.76 and a beta of 0.61.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings data 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 the consensus estimate of $37.75 million. Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. During the same period in the previous year, the business earned ($0.10) EPS. On average, equities analysts predict that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Padraic L. Spence sold 36,300 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total value of $37,026.00. Following the transaction, the director now directly owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Padraic L. Spence sold 36,300 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total value of $37,026.00. Following the transaction, the director now owns 1,717,240 shares in the company, valued at approximately $1,751,584.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Padraic L. Spence sold 26,199 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $1.32, for a total transaction of $34,582.68. Following the transaction, the director now directly owns 1,753,540 shares of the company’s stock, valued at $2,314,672.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,870 shares of company stock valued at $189,756. Insiders own 11.73% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

Several hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new position in shares of Zevia PBC in the 2nd quarter valued at about $27,000. California State Teachers Retirement System acquired a new position in Zevia PBC in the second quarter valued at approximately $36,000. American International Group Inc. purchased a new stake in Zevia PBC in the 2nd quarter worth approximately $52,000. Wells Fargo & Company MN grew its stake in shares of Zevia PBC by 341.1% during the 2nd quarter. Wells Fargo & Company MN now owns 12,660 shares of the company’s stock worth $55,000 after purchasing an additional 9,790 shares during the period. Finally, Barclays PLC grew its stake in shares of Zevia PBC by 170.3% during the 4th quarter. Barclays PLC now owns 12,717 shares of the company’s stock worth $52,000 after purchasing an additional 8,012 shares during the period. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.