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

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

Separately, Weiss Ratings raised shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday.

Insiders Place Their Bets

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the transaction, the insider directly owned 11,400,428 shares of the company’s stock, valued at approximately $21,660,813.20. This trade represents a 15.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors and hedge funds have recently made changes to their positions in ZVIA. Quadrature Capital Ltd purchased a new position in shares of Zevia PBC during the fourth quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Zevia PBC during the 4th quarter valued at approximately $27,000. Engineers Gate Manager LP purchased a new stake in Zevia PBC during the 4th quarter valued at approximately $28,000. SG Americas Securities LLC purchased a new stake in Zevia PBC during the 4th quarter valued at approximately $31,000. Finally, JPMorgan Chase & Co. lifted its position in Zevia PBC by 2,460.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock worth $50,000 after acquiring an additional 14,912 shares during the period. 53.21% of the stock is owned by hedge funds and other institutional investors.

Zevia PBC Stock Up 1.6%

NYSE:ZVIA opened at $1.70 on Friday. The stock’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.53. The company has a market capitalization of $130.64 million, a PE ratio of -16.97 and a beta of 1.00. Zevia PBC has a 52-week low of $1.11 and a 52-week high of $3.63.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $46.09 million for the quarter, compared to analyst estimates of $40.97 million. Zevia PBC had a negative return on equity of 13.43% and a negative net margin of 4.11%. As a group, sell-side analysts anticipate that Zevia PBC will post -0.1 EPS for the current fiscal year.

About Zevia PBC

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.