Zevia PBC (NYSE:ZVIA) Given “Market Perform” Rating at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA)‘s stock had its “market perform” rating restated by Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential downside of 1.23% from the company’s current price.

Zevia PBC Stock Performance

Shares of ZVIA stock opened at $4.05 on Tuesday. The stock has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $1.68. The firm has a market capitalization of $295.71 million, a PE ratio of -10.66 and a beta of 0.66. Zevia PBC has a 52-week low of $0.62 and a 52-week high of $4.78.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $36.37 million during the quarter, compared to analysts’ expectations of $38.53 million. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. During the same quarter last year, the business posted ($0.16) earnings per share. On average, sell-side analysts forecast that Zevia PBC will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In other Zevia PBC news, Director Rosemary L. Ripley sold 2,567,006 shares of Zevia PBC stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1.90, for a total value of $4,877,311.40. Following the sale, the director now owns 2,719,258 shares of the company’s stock, valued at $5,166,590.20. The trade was a 48.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new stake in Zevia PBC during the third quarter valued at $108,000. XTX Topco Ltd purchased a new stake in shares of Zevia PBC during the 3rd quarter valued at about $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Zevia PBC during the 2nd quarter valued at about $26,000. Renaissance Technologies LLC lifted its holdings in shares of Zevia PBC by 128.7% in the 2nd quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock valued at $47,000 after acquiring an additional 39,000 shares during the last quarter. Finally, Nwam LLC purchased a new position in Zevia PBC in the third quarter worth about $39,000. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.