Zevia PBC (NYSE:ZVIA) Receives Consensus Recommendation of “Hold” from Analysts

Zevia PBC (NYSE:ZVIA) has been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $4.4250.

ZVIA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Craig Hallum assumed coverage on Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, Telsey Advisory Group cut their price target on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Thursday, February 26th.

Zevia PBC Stock Performance

Shares of ZVIA stock opened at $1.29 on Friday. Zevia PBC has a 52-week low of $1.11 and a 52-week high of $3.66. The stock has a market cap of $96.50 million, a price-to-earnings ratio of -8.57 and a beta of 0.90. The firm’s 50-day moving average is $1.68 and its 200-day moving average is $2.21.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $37.87 million during the quarter, compared to analysts’ expectations of $39.96 million. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%. Sell-side analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

Insider Activity at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 13,550,428 shares of the company’s stock, valued at $27,100,856. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey bought a new position in Zevia PBC in the 2nd quarter valued at about $25,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Zevia PBC by 6.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 131,042 shares of the company’s stock worth $303,000 after acquiring an additional 8,237 shares during the period. CreativeOne Wealth LLC grew its position in shares of Zevia PBC by 45.4% in the third quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock valued at $77,000 after purchasing an additional 8,787 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Zevia PBC in the fourth quarter valued at approximately $26,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Zevia PBC during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

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.