Zevia PBC (NYSE:ZVIA) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Zevia PBC (NYSE:ZVIA) from a hold rating to a sell rating in a report published on Saturday.

Separately, Weiss Ratings raised shares of Zevia PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.90.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.45 on Friday. The firm has a market cap of $111.24 million, a PE ratio of -11.12 and a beta of 0.99. The stock’s fifty day moving average price is $1.57 and its two-hundred day moving average price is $1.49. Zevia PBC has a one year low of $1.11 and a one year high of $3.54.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Zevia PBC had a negative return on equity of 16.70% and a negative net margin of 5.34%.The firm had revenue of $45.00 million during the quarter, compared to the consensus estimate of $44.21 million. Sell-side analysts expect that Zevia PBC will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

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 that occurred on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the sale, the insider owned 11,400,428 shares in the company, valued at $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zevia PBC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in shares of Zevia PBC during the fourth quarter valued at about $4,864,000. Vanguard Group Inc. boosted its position in Zevia PBC by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company’s stock worth $5,348,000 after buying an additional 89,810 shares during the period. Kanen Wealth Management LLC acquired a new stake in Zevia PBC during the 1st quarter worth approximately $1,462,000. Geode Capital Management LLC grew its holdings in Zevia PBC by 29.3% during the 4th quarter. Geode Capital Management LLC now owns 1,023,391 shares of the company’s stock worth $2,375,000 after acquiring an additional 231,965 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Zevia PBC by 33.3% during the 1st quarter. Renaissance Technologies LLC now owns 811,826 shares of the company’s stock worth $950,000 after acquiring an additional 203,000 shares during the last quarter. Institutional investors 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.