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

Key Points

• Analysts have a consensus “Hold” rating on Zevia PBC, with three buys, two holds and one sell. The average 12-month price target is $4.425, well above the reported opening price of $1.72.
• Zevia’s latest quarterly results were mixed but met expectations: EPS was a loss of $0.03, while revenue of $45.0 million exceeded the $44.21 million consensus estimate. Analysts expect a full-year loss of approximately $0.10 per share.
• Institutional investors own 53.21% of the company, while a major shareholder recently sold 2.15 million shares for about $4.1 million, reducing its position by 15.87%.

Zevia PBC (NYSE:ZVIA - Get Free Report) has been given a consensus recommendation of "Hold" by the six analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.4250.

Separately, Weiss Ratings raised Zevia PBC from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, July 17th.

Zevia PBC Price Performance

Shares of NYSE ZVIA opened at $1.72 on Thursday. The business has a 50-day moving average of $1.57 and a two-hundred day moving average of $1.49. The company has a market capitalization of $132.02 million, a price-to-earnings ratio of -17.15 and a beta of 0.99. Zevia PBC has a 1 year low of $1.11 and a 1 year high of $3.63.

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 analysts' consensus estimates of ($0.03). Zevia PBC had a negative return on equity of 13.43% and a negative net margin of 4.11%.The business had revenue of $45.00 million for the quarter, compared to the consensus estimate of $44.21 million. As a group, equities research analysts expect that Zevia PBC will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the completion of the sale, the insider owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Zevia PBC

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in Zevia PBC in the fourth quarter valued at $4,864,000. Vanguard Group Inc. increased its position in shares of Zevia PBC by 4.8% during the third quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company's stock worth $5,348,000 after purchasing an additional 89,810 shares in the last quarter. Kanen Wealth Management LLC acquired a new stake in shares of Zevia PBC during the first quarter worth about $1,462,000. Geode Capital Management LLC lifted its holdings in shares of Zevia PBC by 29.3% in the 4th quarter. Geode Capital Management LLC now owns 1,023,391 shares of the company's stock valued at $2,375,000 after purchasing an additional 231,965 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Zevia PBC by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 811,826 shares of the company's stock valued at $950,000 after purchasing an additional 203,000 shares during the last quarter. 53.21% of the stock is currently owned by institutional investors and hedge funds.

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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