Telsey Advisory Group Cuts Zevia PBC (NYSE:ZVIA) Price Target to $2.00

Zevia PBC (NYSE:ZVIA) had its price target decreased by investment analysts at Telsey Advisory Group from $3.00 to $2.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price indicates a potential upside of 143.61% from the stock’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group dropped their price target on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a research report on Thursday. Morgan Stanley cut their target price on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.54.

Zevia PBC Stock Down 4.1 %

NYSE ZVIA opened at $0.82 on Thursday. The stock has a market capitalization of $58.99 million, a PE ratio of -2.04 and a beta of 0.66. Zevia PBC has a 12-month low of $0.78 and a 12-month high of $4.80. The company has a 50 day moving average price of $1.10 and a two-hundred day moving average price of $1.60.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results 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 the consensus estimate 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 quarter last year, the company posted ($0.04) earnings per share. As a group, equities analysts anticipate that Zevia PBC will post -0.32 EPS for the current year.

Insider Buying and Selling

In related news, Director Padraic L. Spence sold 36,300 shares of the company’s 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 sale, the director now owns 1,717,240 shares of the company’s stock, valued at $1,751,584.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Zevia PBC news, CEO Amy Taylor sold 30,703 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $1.02, for a total transaction of $31,317.06. Following the sale, the chief executive officer now directly owns 959,252 shares of the company’s stock, valued at $978,437.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Padraic L. Spence sold 36,300 shares of Zevia PBC stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total transaction of $37,026.00. Following the completion of the transaction, the director now owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The disclosure for this sale can be found here. Insiders sold a total of 103,937 shares of company stock valued at $114,160 over the last ninety days. 12.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sapient Capital LLC bought a new position in shares of Zevia PBC in the fourth quarter worth about $41,000. Kennedy Capital Management LLC increased its holdings in shares of 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 purchasing an additional 219,932 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Zevia PBC in the 3rd quarter worth approximately $31,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Company Profile

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.