Zevia PBC (NYSE:ZVIA) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Zevia PBC has a consensus analyst rating of "Hold", based on six analysts: one sell, two hold, and three buy. The average 12-month price target is $4.43.
• The stock fell 2.3% to $1.73 in Friday trading, well below its 52-week high of $3.63 and above its 52-week low of $1.11. The company’s market cap is about $133.1 million.
• Zevia recently reported quarterly earnings of ($0.03) per share, matching expectations, while revenue of $46.09 million beat forecasts. Separately, a major shareholder sold 2.15 million shares, and institutional investors now own 53.21% of the stock.

Shares of Zevia PBC (NYSE:ZVIA - Get Free Report) have been assigned a consensus rating of "Hold" from the six analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.4250.

Separately, Weiss Ratings lowered Zevia PBC from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, June 24th.

Zevia PBC Stock Down 2.3%

Shares of NYSE:ZVIA traded down $0.04 during trading on Friday, reaching $1.73. 480,826 shares of the company's stock traded hands, compared to its average volume of 1,436,944. Zevia PBC has a fifty-two week low of $1.11 and a fifty-two week high of $3.63. The company has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.55. The firm has a market cap of $133.10 million, a PE ratio of -17.29 and a beta of 1.00.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.03). Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. The firm had revenue of $46.09 million for the quarter, compared to analyst estimates of $40.97 million. On average, equities research analysts forecast that Zevia PBC will post -0.1 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the business's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total value of $4,085,000.00. Following the completion of the sale, the insider directly owned 11,400,428 shares of the company's stock, valued at $21,660,813.20. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zevia PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Divisadero Street Capital Management LP lifted its position in shares of Zevia PBC by 90.6% during the 3rd quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company's stock valued at $16,753,000 after acquiring an additional 2,928,382 shares during the period. Jefferies Financial Group Inc. purchased a new position in Zevia PBC in the 4th quarter valued at approximately $4,864,000. Vanguard Group Inc. increased its stake in Zevia PBC by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company's stock valued at $5,348,000 after purchasing an additional 89,810 shares in the last quarter. Kanen Wealth Management LLC purchased a new position in Zevia PBC in the 1st quarter valued at approximately $1,462,000. Finally, Ghisallo Capital Management LLC raised its holdings in Zevia PBC by 265.1% during the third quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company's stock worth $2,992,000 after purchasing an additional 798,700 shares during the last quarter. Institutional investors and hedge funds own 53.21% of the company's stock.

Zevia PBC Company Profile

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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