Zevia PBC (NYSE:ZVIA) Price Target Cut to $1.00

Zevia PBC (NYSE:ZVIA) had its price target decreased by stock analysts at Wells Fargo & Company from $1.25 to $1.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 14.94% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group cut their price target on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a report on Thursday. Finally, Telsey Advisory Group lowered their price objective on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.21.

Zevia PBC Stock Up 1.7 %

Shares of NYSE:ZVIA traded up $0.01 during trading on Thursday, reaching $0.87. 121,447 shares of the company’s stock traded hands, compared to its average volume of 162,200. Zevia PBC has a fifty-two week low of $0.78 and a fifty-two week high of $4.80. The company has a 50-day simple moving average of $1.10 and a 200-day simple moving average of $1.60. The firm has a market cap of $62.51 million, a PE ratio of -2.07 and a beta of 0.66.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $38.80 million for the quarter, compared to analyst estimates of $39.82 million. Zevia PBC had a negative return on equity of 29.55% and a negative net margin of 12.91%. During the same period last year, the company earned ($0.04) earnings per share. On average, equities research analysts forecast that Zevia PBC will post -0.32 EPS for the current year.

Insider Buying and Selling

In other news, Director Padraic L. Spence sold 26,199 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $1.32, for a total value of $34,582.68. Following the transaction, the director now directly owns 1,753,540 shares in the company, valued at approximately $2,314,672.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Padraic L. Spence sold 26,199 shares of the stock in a transaction dated 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 owns 1,753,540 shares of the company’s stock, valued at approximately $2,314,672.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Padraic L. Spence sold 36,300 shares of Zevia PBC 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 $1,751,584.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,937 shares of company stock valued at $114,160. 12.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zevia PBC

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Zevia PBC in the third quarter valued at $31,000. Kennedy Capital Management LLC lifted its position in Zevia PBC by 51.7% in the third quarter. Kennedy Capital Management LLC now owns 645,041 shares of the company’s stock valued at $1,432,000 after acquiring an additional 219,932 shares during the last quarter. Finally, Sapient Capital LLC purchased a new position in shares of Zevia PBC during the fourth quarter worth about $41,000. 53.21% of the stock is currently owned by institutional investors and hedge funds.

About Zevia PBC

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.