Zevia PBC (NYSE:ZVIA) Receives Average Rating of “Hold” from Analysts

Zevia PBC (NYSE:ZVIA) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, MarketBeat.com 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 1 year target price among analysts that have covered the stock in the last year is $4.6750.

ZVIA has been the subject of a number of research analyst reports. Craig Hallum initiated coverage on Zevia PBC in a report on Thursday, January 15th. They issued a “buy” rating and a $4.00 target price for the company. Telsey Advisory Group reissued an “outperform” rating and set a $6.00 target price on shares of Zevia PBC in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Finally, Zacks Research cut shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th.

Insider Activity at Zevia PBC

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of Zevia PBC stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total value of $7,000,000.00. Following the completion of the sale, the insider owned 13,550,428 shares of the company’s stock, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zevia PBC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position 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 valued at $66,000 after acquiring an additional 15,280 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Zevia PBC by 52.7% during the first quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock valued at $171,000 after buying an additional 27,343 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Zevia PBC during the first quarter worth $187,000. Emerald Advisers LLC raised its position in Zevia PBC by 42.9% in the 2nd quarter. Emerald Advisers LLC now owns 129,857 shares of the company’s stock valued at $418,000 after buying an additional 38,986 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Zevia PBC by 99.9% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 761,700 shares of the company’s stock valued at $2,453,000 after acquiring an additional 380,693 shares in the last quarter. 53.21% of the stock is owned by institutional investors.

Zevia PBC Trading Down 0.9%

Shares of ZVIA opened at $1.62 on Wednesday. The firm’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.41. Zevia PBC has a 12 month low of $1.55 and a 12 month high of $3.70. The stock has a market capitalization of $121.13 million, a P/E ratio of -7.34 and a beta of 0.86.

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.