Zevia PBC (NYSE:ZVIA) Stock Price Down 4.3% - Here's Why

Shares of Zevia PBC (NYSE:ZVIA - Get Free Report) traded down 4.3% on Tuesday . The stock traded as low as $3.00 and last traded at $3.08. 742,342 shares were traded during mid-day trading, an increase of 39% from the average session volume of 534,444 shares. The stock had previously closed at $3.22.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $3.00 price target on shares of Zevia PBC in a research note on Monday, May 5th.

Zevia PBC Stock Performance

The firm has a market capitalization of $232.31 million, a PE ratio of -10.10 and a beta of 0.91. The company has a fifty day moving average price of $2.79 and a 200-day moving average price of $3.01.

Zevia PBC (NYSE:ZVIA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Zevia PBC had a negative net margin of 12.58% and a negative return on equity of 35.52%. The company had revenue of $38.02 million for the quarter, compared to analysts' expectations of $37.15 million. On average, equities analysts predict that Zevia PBC will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in Zevia PBC during the fourth quarter worth approximately $57,000. Emerald Advisers LLC bought a new stake in shares of Zevia PBC in the 4th quarter valued at approximately $228,000. Geode Capital Management LLC boosted its holdings in shares of Zevia PBC by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 539,652 shares of the company's stock worth $2,262,000 after purchasing an additional 3,177 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Zevia PBC during the 4th quarter valued at approximately $596,000. Finally, Renaissance Technologies LLC raised its holdings in Zevia PBC by 51.6% during the 4th quarter. Renaissance Technologies LLC now owns 150,726 shares of the company's stock valued at $632,000 after buying an additional 51,300 shares during the period. Institutional investors own 53.21% of the company's stock.

Zevia PBC Company Profile

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.