Zevia PBC $ZVIA Shares Purchased by Jacobs Levy Equity Management Inc.

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% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 544,099 shares of the company's stock after acquiring an additional 524,675 shares during the period. Jacobs Levy Equity Management Inc. owned 0.74% of Zevia PBC worth $1,175,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ZVIA. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Zevia PBC by 44.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company's stock valued at $90,000 after purchasing an additional 6,610 shares in the last quarter. Wolverine Trading LLC purchased a new stake in Zevia PBC in the 4th quarter valued at approximately $39,000. Stifel Financial Corp purchased a new stake in Zevia PBC in the 4th quarter valued at approximately $42,000. Schonfeld Strategic Advisors LLC purchased a new stake in Zevia PBC in the 4th quarter valued at approximately $45,000. Finally, Northern Trust Corp boosted its holdings in Zevia PBC by 11.6% in the 4th quarter. Northern Trust Corp now owns 119,428 shares of the company's stock valued at $500,000 after purchasing an additional 12,396 shares in the last quarter. Institutional investors and hedge funds own 53.21% of the company's stock.

Zevia PBC Price Performance

Shares of ZVIA stock traded down $0.04 during midday trading on Wednesday, reaching $2.40. 283,789 shares of the company traded hands, compared to its average volume of 716,173. The firm's 50 day simple moving average is $2.92 and its two-hundred day simple moving average is $2.68. Zevia PBC has a 1-year low of $0.96 and a 1-year high of $4.99. The firm has a market cap of $179.51 million, a PE ratio of -10.89 and a beta of 0.89.

Zevia PBC (NYSE:ZVIA - Get Free Report) last posted 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. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. The company had revenue of $44.52 million during the quarter, compared to the consensus estimate of $41.63 million. As a group, research analysts anticipate that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZVIA. Telsey Advisory Group lifted their price objective on Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Thursday, August 14th. BMO Capital Markets lifted their price objective on Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Morgan Stanley lifted their price objective on Zevia PBC from $2.50 to $2.70 and gave the company an "equal weight" rating in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.61.

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.