Zevia PBC (NYSE:ZVIA) Given New $6.00 Price Target at Telsey Advisory Group

Key Points

• Telsey Advisory Group has raised its target price for Zevia PBC from $5.00 to $6.00, indicating a potential upside of 101.34% from the current stock price.
• Zevia PBC recently reported earnings of ($0.01) per share, surpassing expectations and generating $44.52 million in revenue for the quarter.
• Hedge funds and institutional investors collectively own over 53% of Zevia PBC's stock, showing strong interest from large investors in the company.

Zevia PBC (NYSE:ZVIA - Free Report) had its price objective boosted by Telsey Advisory Group from $5.00 to $6.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley increased their target price on shares of Zevia PBC from $2.50 to $2.70 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. BMO Capital Markets increased their target price on shares of Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.61.

Zevia PBC Stock Performance

Shares of Zevia PBC stock traded down $0.0350 during trading hours on Thursday, reaching $2.8350. 182,819 shares of the company were exchanged, compared to its average volume of 699,924. The stock's fifty day moving average is $3.11 and its 200 day moving average is $2.77. The firm has a market cap of $212.48 million, a PE ratio of -12.89 and a beta of 0.90. Zevia PBC has a 1 year low of $0.90 and a 1 year high of $4.99.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its 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 net margin of 8.97% and a negative return on equity of 27.86%. The firm had revenue of $44.52 million during the quarter, compared to the consensus estimate of $41.63 million. Research analysts expect that Zevia PBC will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in Zevia PBC by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 539,652 shares of the company's stock valued at $2,262,000 after buying an additional 3,177 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Zevia PBC by 44.4% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company's stock valued at $90,000 after purchasing an additional 6,610 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Zevia PBC in the second quarter valued at approximately $25,000. Wolverine Trading LLC acquired a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $39,000. Finally, Stifel Financial Corp acquired a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $42,000. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.