Zevia PBC (NYSE:ZVIA) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Zevia PBC from “hold” to “sell.” Despite the downgrade, analysts’ consensus remains “Hold,” with a consensus price target of $3.90.
• Zevia shares opened at $1.45, with a market capitalization of approximately $111.2 million. The company reported quarterly revenue of $45.0 million and an adjusted loss of $0.03 per share, matching expectations.
• A major shareholder sold 2.15 million shares for about $4.1 million, reducing its stake by 15.87%. Institutional investors own 53.21% of the company, while insiders hold 7.70%.

Zevia PBC (NYSE:ZVIA - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings upgraded Zevia PBC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.90.

Zevia PBC Trading Down 1.7%

ZVIA opened at $1.45 on Friday. The company has a fifty day moving average price of $1.57 and a two-hundred day moving average price of $1.49. Zevia PBC has a 1-year low of $1.11 and a 1-year high of $3.54. The company has a market cap of $111.24 million, a P/E ratio of -11.12 and a beta of 0.99.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Zevia PBC had a negative return on equity of 16.70% and a negative net margin of 5.34%.The firm had revenue of $45.00 million during the quarter, compared to the consensus estimate of $44.21 million. On average, research analysts forecast that Zevia PBC will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of Zevia PBC stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of the transaction, the insider directly owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is owned by insiders.

Institutional Trading of Zevia PBC

A number of large investors have recently modified their holdings of ZVIA. Bank of America Corp DE increased its position in shares of Zevia PBC by 2,845.4% in the fourth quarter. Bank of America Corp DE now owns 15,817 shares of the company's stock worth $66,000 after purchasing an additional 15,280 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Zevia PBC by 52.7% during the first quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company's stock valued at $171,000 after purchasing an additional 27,343 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Zevia PBC during the first quarter valued at approximately $187,000. Geode Capital Management LLC grew its stake in Zevia PBC by 66.5% in the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company's stock worth $3,006,000 after buying an additional 372,665 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Zevia PBC by 2,460.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company's stock worth $50,000 after buying an additional 14,912 shares in the last quarter. Institutional investors own 53.21% of the company's stock.

About Zevia PBC

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia's mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company's product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.

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