Zevia PBC (NYSE:ZVIA) Trading 4.1% Higher - Time to Buy?

Key Points

• Zevia shares rose 4.1% to $1.3850 in Thursday trading, with approximately 351,915 shares changing hands. The stock remains below its 50-day and 200-day moving averages of $1.47 and $1.41, respectively.
• Analyst sentiment is mixed, with two Buy ratings, one Hold, and one Sell; the consensus rating is Hold with a target price of $4.50. Recent rating changes from Weiss Ratings and Wall Street Zen downgraded the stock to Sell.
• Zevia reported quarterly revenue of $45.0 million, above the $44.21 million estimate, while meeting expectations with an adjusted loss of $0.03 per share. The company remains unprofitable, with a negative net margin and analysts expecting a full-year loss of $0.13 per share.

Zevia PBC (NYSE:ZVIA - Get Free Report)'s share price traded up 4.1% during trading on Thursday . The company traded as high as $1.39 and last traded at $1.3850. Approximately 351,915 shares traded hands during trading, a decline of 7% from the average daily volume of 379,830 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

ZVIA has been the topic of several analyst reports. Weiss Ratings cut shares of Zevia PBC from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, September 4th. Wall Street Zen lowered Zevia PBC from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $4.50.

Zevia PBC Stock Up 4.1%

The business's fifty day moving average is $1.47 and its 200-day moving average is $1.41. The stock has a market capitalization of $107.13 million, a PE ratio of -10.65 and a beta of 0.96.

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

Hedge Funds Weigh In On Zevia PBC

Several hedge funds and other institutional investors have recently modified their holdings of ZVIA. Tocqueville Asset Management L.P. acquired a new position in Zevia PBC during the second quarter valued at approximately $26,000. Ruggaard & Associates LLC purchased a new stake in shares of Zevia PBC in the second quarter worth about $28,000. Sei Investments Co. acquired a new stake in shares of Zevia PBC in the first quarter valued at about $86,000. Bank of New York Mellon Corp grew its stake in shares of Zevia PBC by 12.9% in the first quarter. Bank of New York Mellon Corp now owns 112,370 shares of the company's stock valued at $131,000 after buying an additional 12,844 shares in the last quarter. Finally, Stoic Point Capital Management LLC acquired a new position in Zevia PBC during the 1st quarter worth approximately $867,000. 53.21% of the stock is owned by institutional investors and hedge funds.

Zevia PBC Company Profile

Zevia PBC NYSE: ZVIA is a beverage company focused on zero-sugar, naturally sweetened products. Its portfolio is built around beverages made without sugar, artificial sweeteners, or artificial colors, and uses plant-based sweeteners such as stevia.

The company's products include Zevia sodas in a range of traditional and fruit-inspired flavors, as well as energy drinks, sparkling water, and beverages formulated for children. Zevia products are marketed as alternatives to conventional soft drinks and are sold through grocery, convenience, mass retail, club, e-commerce, and other channels.

Zevia was founded in 2007 and became a publicly traded company in 2021.

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