Zevia PBC (NYSE:ZVIA) Posts Earnings Results, Hits Estimates

Zevia PBC (NYSE:ZVIA - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.10), Zacks reports. The company had revenue of $38.80 million during the quarter, compared to analysts' expectations of $39.82 million. Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. During the same period last year, the company posted ($0.04) earnings per share. Zevia PBC updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Zevia PBC Stock Up 1.7 %

Shares of NYSE:ZVIA traded up $0.01 during trading on Thursday, reaching $0.87. The stock had a trading volume of 197,405 shares, compared to its average volume of 163,062. Zevia PBC has a fifty-two week low of $0.78 and a fifty-two week high of $4.80. The business has a fifty day moving average price of $1.10 and a 200-day moving average price of $1.60. The stock has a market cap of $62.51 million, a P/E ratio of -2.07 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ZVIA shares. Morgan Stanley decreased their target price on Zevia PBC from $3.00 to $2.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 28th. Telsey Advisory Group lowered their price objective on shares of Zevia PBC from $3.00 to $2.00 and set a "market perform" rating on the stock in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Zevia PBC from $1.25 to $1.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Zevia PBC from $3.00 to $1.25 and set a "neutral" rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Zevia PBC has a consensus rating of "Hold" and an average price target of $3.21.

Insiders Place Their Bets

In other news, CEO Amy Taylor sold 30,703 shares of the firm's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $1.02, for a total transaction of $31,317.06. Following the sale, the chief executive officer now owns 959,252 shares in the company, valued at $978,437.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Amy Taylor sold 30,703 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $1.02, for a total transaction of $31,317.06. Following the transaction, the chief executive officer now directly owns 959,252 shares in the company, valued at approximately $978,437.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Padraic L. Spence sold 36,300 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total transaction of $37,026.00. Following the completion of the sale, the director now directly owns 1,717,240 shares in the company, valued at $1,751,584.80. The disclosure for this sale can be found here. In the last three months, insiders sold 103,937 shares of company stock valued at $114,160. Company insiders own 12.55% of the company's stock.

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.