Zevia PBC (NYSE:ZVIA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Zevia PBC (NYSE:ZVIA) has an average analyst rating of "Moderate Buy," with six analysts covering the stock, indicating a range of recommendations from sell to strong buy.
• The company's recent earnings report showed a bottom line of ($0.01) EPS, exceeding analyst expectations, with revenue reported at $44.52 million.
• Institutional investors have increased their stakes in Zevia PBC, with a notable growth of 2,460.7% in holdings by JPMorgan Chase & Co. during the second quarter.

Shares of Zevia PBC (NYSE:ZVIA - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.6125.

A number of equities analysts have recently commented on ZVIA shares. Zacks Research raised Zevia PBC from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Morgan Stanley boosted their price target on Zevia PBC from $2.50 to $2.70 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. BMO Capital Markets boosted their price target on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Zevia PBC in a report on Wednesday. Finally, Telsey Advisory Group upped their target price on Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Thursday, August 14th.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Zevia PBC in the 2nd quarter valued at about $25,000. DKM Wealth Management Inc. bought a new stake in shares of Zevia PBC in the 2nd quarter valued at about $42,000. JPMorgan Chase & Co. grew its position in shares of Zevia PBC by 2,460.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company's stock valued at $50,000 after buying an additional 14,912 shares during the last quarter. Bank of America Corp DE grew its position in shares of Zevia PBC by 2,845.4% in the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company's stock valued at $66,000 after buying an additional 15,280 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Zevia PBC in the 2nd quarter valued at about $51,000. Institutional investors own 53.21% of the company's stock.

Zevia PBC Price Performance

Shares of NYSE ZVIA opened at $2.28 on Thursday. The stock has a market capitalization of $170.89 million, a PE ratio of -10.36 and a beta of 0.88. The business has a fifty day moving average price of $2.73 and a two-hundred day moving average price of $2.71. Zevia PBC has a fifty-two week low of $0.96 and a fifty-two week high of $4.99.

Zevia PBC (NYSE:ZVIA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. Zevia PBC had a negative return on equity of 27.86% and a negative net margin of 8.97%.The company had revenue of $44.52 million during the quarter, compared to analysts' expectations of $41.63 million. On average, equities analysts expect that Zevia PBC will post -0.32 EPS for the current year.

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.

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