Zevia PBC (NYSE:ZVIA) Stock Rating Upgraded by Zacks Research

Key Points

• Zevia PBC has been upgraded by Zacks Research from a "hold" to a "strong-buy" rating, indicating increased confidence among analysts regarding its stock performance.
• Several analysts raised their target prices for Zevia PBC, with BMO Capital Markets and Telsey Advisory Group both increasing their targets from $5.00 to $6.00, suggesting a bullish outlook for the stock.
• The company reported better-than-expected quarterly earnings, with an EPS of ($0.01), surpassing the consensus estimate and indicating potential growth in revenue.

Zevia PBC (NYSE:ZVIA - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets raised their target price on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Zevia PBC in a report on Wednesday. Morgan Stanley increased their price objective on shares of Zevia PBC from $2.50 to $2.70 and gave the company an "equal weight" rating in a research report on Tuesday, August 12th. Finally, Telsey Advisory Group upped their target price on shares of Zevia PBC from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zevia PBC presently has a consensus rating of "Moderate Buy" and an average price target of $4.61.

Zevia PBC Trading Down 0.9%

Shares of Zevia PBC stock opened at $2.28 on Tuesday. The business's fifty day moving average price is $2.73 and its 200 day moving average price is $2.71. Zevia PBC has a twelve month low of $0.96 and a twelve month high of $4.99. The stock has a market capitalization of $170.89 million, a P/E ratio of -10.36 and a beta of 0.88.

Zevia PBC (NYSE:ZVIA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $44.52 million during the quarter, compared to analyst estimates of $41.63 million. Zevia PBC had a negative return on equity of 27.86% and a negative net margin of 8.97%. As a group, sell-side analysts predict that Zevia PBC will post -0.32 EPS for the current year.

Institutional Trading of Zevia PBC

Hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new position in Zevia PBC during the 2nd quarter worth $25,000. DKM Wealth Management Inc. acquired a new position in shares of Zevia PBC during the second quarter valued at $42,000. First Manhattan CO. LLC. bought a new position in shares of Zevia PBC during the first quarter worth about $48,000. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 14,912 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Zevia PBC in the 2nd quarter valued at about $51,000. Institutional investors own 53.21% of the company's stock.

About Zevia PBC

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.

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