Zevia PBC (NYSE:ZVIA) Receives Average Recommendation of “Hold” from Brokerages

Zevia PBC (NYSE:ZVIA) has been assigned an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.21.

Several research firms recently issued reports on ZVIA. Wells Fargo & Company cut their target price on Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Telsey Advisory Group cut their target price on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group cut their target price on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a research report on Thursday, May 9th.

Zevia PBC Stock Performance

ZVIA stock opened at $0.67 on Friday. Zevia PBC has a fifty-two week low of $0.66 and a fifty-two week high of $4.51. The business’s 50-day moving average is $0.87 and its two-hundred day moving average is $1.27. The company has a market cap of $48.77 million, a price-to-earnings ratio of -1.41 and a beta of 0.62.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Zevia PBC had a negative return on equity of 37.98% and a negative net margin of 15.58%. The company had revenue of $38.80 million for the quarter, compared to the consensus estimate of $39.82 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Equities analysts predict that Zevia PBC will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Amy Taylor purchased 55,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were acquired at an average price of $0.89 per share, for a total transaction of $48,950.00. Following the purchase, the chief executive officer now owns 1,014,252 shares in the company, valued at $902,684.28. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 12.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zevia PBC

An institutional investor recently raised its position in Zevia PBC stock. Kennedy Capital Management LLC raised its position in Zevia PBC (NYSE:ZVIA) by 51.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 645,041 shares of the company’s stock after purchasing an additional 219,932 shares during the quarter. Kennedy Capital Management LLC owned 0.90% of Zevia PBC worth $1,432,000 as of its most recent SEC filing. 53.21% of the stock is currently owned by institutional investors and hedge funds.

About Zevia PBC

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.