Zevia PBC (NYSE:ZVIA) Stock Price Down 1.2% - Here's Why

Key Points

• Zevia shares fell 1.2% to about $1.20 in mid-day trading, with volume slightly below its average. The stock remains below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $4.50. Ratings include two Buys, one Hold and one Sell.
• The company met quarterly earnings expectations with a loss of $0.03 per share and reported $45.0 million in revenue, above estimates of $44.21 million. Zevia remains unprofitable, with a negative net margin and return on equity.

Zevia PBC (NYSE:ZVIA - Get Free Report) shares were down 1.2% during mid-day trading on Thursday. The stock traded as low as $1.18 and last traded at $1.1950. 401,569 shares were traded during trading, a decline of 4% from the average daily volume of 420,309 shares. The stock had previously closed at $1.21.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ZVIA. Wall Street Zen lowered shares of Zevia PBC from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Zevia PBC from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Zevia PBC has a consensus rating of "Hold" and a consensus target price of $4.50.

Zevia PBC Stock Performance

The company has a 50 day simple moving average of $1.36 and a two-hundred day simple moving average of $1.40. The firm has a market cap of $92.43 million, a PE ratio of -9.19 and a beta of 0.93.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). The firm had revenue of $45.00 million during the quarter, compared to the consensus estimate of $44.21 million. Zevia PBC had a negative return on equity of 16.92% and a negative net margin of 5.34%. As a group, research analysts predict that Zevia PBC will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of Zevia PBC

Several large investors have recently made changes to their positions in the business. Squarepoint Ops LLC lifted its holdings in Zevia PBC by 41.1% during the second quarter. Squarepoint Ops LLC now owns 769,655 shares of the company's stock valued at $1,255,000 after purchasing an additional 224,357 shares in the last quarter. Ruggaard & Associates LLC purchased a new stake in shares of Zevia PBC during the second quarter worth about $28,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Zevia PBC during the second quarter worth about $26,000. Kanen Wealth Management LLC acquired a new position in shares of Zevia PBC during the 1st quarter worth about $1,462,000. Finally, Stoic Point Capital Management LLC acquired a new position in shares of Zevia PBC during the 1st quarter worth about $867,000. 53.21% of the stock is owned by hedge funds and other institutional investors.

About Zevia PBC

Zevia PBC is a beverage company that develops, markets and sells zero-sugar, naturally sweetened drinks. Its products are designed to provide alternatives to conventional soft drinks and other beverages that contain added sugar or artificial sweeteners.

The company's portfolio includes Zevia Soda, a line of carbonated soft drinks offered in flavors such as cola, citrus and ginger; Zevia Energy drinks; Zevia Kids beverages; and other sparkling and functional beverage products. Zevia beverages are generally sweetened with stevia leaf extract and are marketed as having zero sugar and zero calories.

Founded in 2007, Zevia sells its products primarily through grocery, mass-market, natural and specialty retailers, as well as e-commerce channels.

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