Soviero Asset Management LP Makes New Investment in Zevia PBC (NYSE:ZVIA)

Soviero Asset Management LP purchased a new position in shares of Zevia PBC (NYSE:ZVIA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 210,000 shares of the company's stock, valued at approximately $880,000. Soviero Asset Management LP owned about 0.29% of Zevia PBC at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in Zevia PBC during the 4th quarter worth $42,000. Schonfeld Strategic Advisors LLC bought a new position in Zevia PBC during the 4th quarter worth $45,000. SBI Securities Co. Ltd. bought a new position in Zevia PBC during the 4th quarter worth $57,000. Abacus Planning Group Inc. bought a new position in Zevia PBC during the 4th quarter worth $57,000. Finally, Bank of America Corp DE increased its stake in Zevia PBC by 2,845.4% during the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company's stock worth $66,000 after acquiring an additional 15,280 shares during the period. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Stock Down 1.1%

Shares of ZVIA traded down $0.03 during midday trading on Friday, hitting $2.80. The company's stock had a trading volume of 427,067 shares, compared to its average volume of 489,461. Zevia PBC has a one year low of $0.62 and a one year high of $4.99. The company's fifty day simple moving average is $2.37 and its two-hundred day simple moving average is $2.89. The stock has a market capitalization of $205.83 million, a price-to-earnings ratio of -7.37 and a beta of 0.76.

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

Analyst Ratings Changes

Separately, Telsey Advisory Group restated a "market perform" rating and set a $3.00 price objective on shares of Zevia PBC in a research note on Monday, May 5th.

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.