Zevia PBC (NYSE:ZVIA) Stock Price Up 8%

Zevia PBC (NYSE:ZVIA)’s share price was up 8% on Wednesday . The company traded as high as $0.84 and last traded at $0.75. Approximately 503,090 shares changed hands during mid-day trading, an increase of 150% from the average daily volume of 201,214 shares. The stock had previously closed at $0.69.

Analyst Ratings Changes

A number of research analysts have issued reports on ZVIA shares. Morgan Stanley decreased their price target on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Telsey Advisory Group lowered their price target on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Company cut their price objective on Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Finally, The Goldman Sachs Group reduced their price objective on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.21.

Zevia PBC Stock Performance

The firm has a market cap of $53.86 million, a price-to-earnings ratio of -1.55 and a beta of 0.67. The business’s 50 day moving average price is $0.90 and its 200 day moving average price is $1.32.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $38.80 million for the quarter, compared to analyst estimates of $39.82 million. Zevia PBC had a negative net margin of 15.58% and a negative return on equity of 37.98%. During the same period in the prior year, the company posted ($0.04) EPS. Sell-side analysts anticipate that Zevia PBC will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In other news, CEO Amy Taylor purchased 55,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of $0.89 per share, with a total value of $48,950.00. Following the purchase, the chief executive officer now directly owns 1,014,252 shares in the company, valued at approximately $902,684.28. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 12.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zevia PBC

A hedge fund recently bought a new stake in Zevia PBC stock. Sapient Capital LLC bought a new stake in Zevia PBC (NYSE:ZVIA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 20,300 shares of the company’s stock, valued at approximately $41,000. 53.21% of the stock is currently 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.