Jacobs Levy Equity Management Inc. Has $1.18 Million Stake in Zevia PBC $ZVIA

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its stake in Zevia PBC by 2,701.2%, owning 544,099 shares valued at approximately $1.18 million after purchasing an additional 524,675 shares.
• Analysts have raised their price targets for Zevia PBC, with Telsey Advisory Group and BMO Capital Markets setting new targets at $6.00 and maintaining an "outperform" rating.
• Zevia PBC reported a net revenue of $44.52 million for the last quarter, surpassing analyst expectations of $41.63 million, while also beating EPS estimates by reporting (-$0.01).

Jacobs Levy Equity Management Inc. boosted its stake in Zevia PBC (NYSE:ZVIA - Free Report) by 2,701.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 544,099 shares of the company's stock after purchasing an additional 524,675 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.74% of Zevia PBC worth $1,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. grew its holdings in Zevia PBC by 44.4% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company's stock worth $90,000 after acquiring an additional 6,610 shares during the period. Wolverine Trading LLC acquired a new stake in Zevia PBC during the 4th quarter worth about $39,000. Stifel Financial Corp acquired a new stake in Zevia PBC during the 4th quarter worth about $42,000. Schonfeld Strategic Advisors LLC acquired a new stake in Zevia PBC during the 4th quarter worth about $45,000. Finally, Northern Trust Corp grew its holdings in Zevia PBC by 11.6% during the 4th quarter. Northern Trust Corp now owns 119,428 shares of the company's stock worth $500,000 after acquiring an additional 12,396 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZVIA has been the subject of a number of recent analyst reports. Telsey Advisory Group increased their price target on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th. Morgan Stanley increased their price target on Zevia PBC from $2.50 to $2.70 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets increased their price target on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $4.61.

Zevia PBC Price Performance

Shares of ZVIA traded down $0.01 during trading hours on Friday, hitting $2.47. The stock had a trading volume of 543,280 shares, compared to its average volume of 716,330. The firm has a 50 day simple moving average of $2.96 and a 200-day simple moving average of $2.68. The firm has a market capitalization of $184.75 million, a P/E ratio of -11.20 and a beta of 0.89. Zevia PBC has a 1-year low of $0.96 and a 1-year high of $4.99.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. The business had revenue of $44.52 million during the quarter, compared to the consensus estimate of $41.63 million. Zevia PBC had a negative return on equity of 27.86% and a negative net margin of 8.97%. Equities analysts predict that Zevia PBC will post -0.32 EPS for the current fiscal year.

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.