Zevia PBC (NYSE:ZVIA) PT Lowered to $1.00

Zevia PBC (NYSE:ZVIA - Get Free Report) had its price target lowered by stock analysts at Wells Fargo & Company from $1.25 to $1.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 14.93% from the company's previous close.

A number of other research firms have also weighed in on ZVIA. Morgan Stanley reduced their target price on Zevia PBC from $3.00 to $2.00 and set an "equal weight" rating for the company in a report on Wednesday, February 28th. The Goldman Sachs Group dropped their price target on Zevia PBC from $3.00 to $1.25 and set a "neutral" rating for the company in a research report on Thursday. Finally, Telsey Advisory Group dropped their price target on Zevia PBC from $3.00 to $2.00 and set a "market perform" rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Zevia PBC presently has a consensus rating of "Hold" and a consensus target price of $3.21.

Zevia PBC Stock Up 1.7 %

ZVIA traded up $0.01 during trading hours on Thursday, hitting $0.87. The stock had a trading volume of 197,405 shares, compared to its average volume of 163,062. The stock has a market cap of $62.52 million, a PE ratio of -2.07 and a beta of 0.66. Zevia PBC has a 1 year low of $0.78 and a 1 year high of $4.80. The company's fifty day simple moving average is $1.10 and its 200 day simple moving average is $1.60.

Zevia PBC (NYSE:ZVIA - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.10). The business had revenue of $38.80 million during the quarter, compared to analyst estimates of $39.82 million. Zevia PBC had a negative return on equity of 29.55% and a negative net margin of 12.91%. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities analysts expect that Zevia PBC will post -0.32 EPS for the current year.

Insider Buying and Selling at Zevia PBC

In related news, Director Padraic L. Spence sold 26,199 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $1.32, for a total value of $34,582.68. Following the sale, the director now directly owns 1,753,540 shares of the company's stock, valued at $2,314,672.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zevia PBC news, Director Padraic L. Spence sold 26,199 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $1.32, for a total value of $34,582.68. Following the sale, the director now directly owns 1,753,540 shares of the company's stock, valued at $2,314,672.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Taylor sold 30,703 shares of the business's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $1.02, for a total value of $31,317.06. Following the completion of the sale, the chief executive officer now directly owns 959,252 shares in the company, valued at $978,437.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,937 shares of company stock worth $114,160. 12.55% of the stock is currently owned by insiders.

Institutional Trading of Zevia PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sapient Capital LLC purchased a new stake in shares of Zevia PBC during the fourth quarter worth about $122,000. Kennedy Capital Management LLC grew its position in shares of Zevia PBC by 51.7% during the third quarter. Kennedy Capital Management LLC now owns 645,041 shares of the company's stock worth $1,432,000 after purchasing an additional 219,932 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Zevia PBC during the third quarter worth about $31,000. Hedge funds and other institutional investors own 53.21% 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.