ArrowMark Colorado Holdings LLC Makes New Investment in Zevia PBC (NYSE:ZVIA)

ArrowMark Colorado Holdings LLC acquired a new stake in shares of Zevia PBC (NYSE:ZVIA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,000,000 shares of the company's stock, valued at approximately $4,190,000. ArrowMark Colorado Holdings LLC owned approximately 1.37% of Zevia PBC at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Zevia PBC by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 539,652 shares of the company's stock worth $2,262,000 after acquiring an additional 3,177 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Zevia PBC during the 4th quarter valued at approximately $1,245,000. Marshall Wace LLP acquired a new stake in shares of Zevia PBC during the fourth quarter worth $858,000. Renaissance Technologies LLC grew its holdings in shares of Zevia PBC by 51.6% during the fourth quarter. Renaissance Technologies LLC now owns 150,726 shares of the company's stock valued at $632,000 after buying an additional 51,300 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Zevia PBC in the 4th quarter worth $596,000. Hedge funds and other institutional investors own 53.21% of the company's stock.

Zevia PBC Stock Performance

Shares of ZVIA stock traded down $0.40 during trading hours on Friday, reaching $2.68. The company had a trading volume of 986,283 shares, compared to its average volume of 472,270. Zevia PBC has a 12-month low of $0.62 and a 12-month high of $4.99. The stock has a fifty day moving average of $2.23 and a 200-day moving average of $2.76. The company has a market capitalization of $197.00 million, a price-to-earnings ratio of -7.05 and a beta of 0.76.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $38.02 million during the quarter, compared to the consensus estimate of $37.15 million. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. On average, analysts forecast that Zevia PBC will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZVIA. Telsey Advisory Group reaffirmed a "market perform" rating and set a $3.00 target price on shares of Zevia PBC in a report on Monday. The Goldman Sachs Group increased their price target on Zevia PBC from $1.15 to $3.75 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th.

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.