Telsey Advisory Group Has Lowered Expectations for Zevia PBC (NYSE:ZVIA) Stock Price

Zevia PBC (NYSE:ZVIA) had its target price reduced by stock analysts at Telsey Advisory Group from $4.00 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 23.71% from the company’s current price.

Separately, The Goldman Sachs Group lifted their price target on shares of Zevia PBC from $1.15 to $3.75 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th.

Zevia PBC Price Performance

Shares of Zevia PBC stock opened at $2.43 on Thursday. The company’s fifty day simple moving average is $3.86 and its 200-day simple moving average is $2.37. The stock has a market capitalization of $177.06 million, a PE ratio of -6.38 and a beta of 0.65. Zevia PBC has a 1-year low of $0.62 and a 1-year high of $4.99.

Insider Activity at Zevia PBC

In related news, CEO Amy Taylor sold 11,479 shares of Zevia PBC stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $4.74, for a total transaction of $54,410.46. Following the transaction, the chief executive officer now owns 1,002,773 shares in the company, valued at approximately $4,753,144.02. The trade was a 1.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rosemary L. Ripley sold 2,567,006 shares of Zevia PBC stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1.90, for a total transaction of $4,877,311.40. Following the transaction, the director now owns 2,719,258 shares in the company, valued at approximately $5,166,590.20. This trade represents a 48.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,582,464 shares of company stock worth $4,950,344. 12.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wolverine Trading LLC bought a new stake in Zevia PBC in the 4th quarter valued at $39,000. Stifel Financial Corp bought a new stake in Zevia PBC in the 4th quarter valued at $42,000. Schonfeld Strategic Advisors LLC bought a new stake in Zevia PBC in the 4th quarter valued at $45,000. SBI Securities Co. Ltd. bought a new stake in Zevia PBC in the 4th quarter valued at $57,000. Finally, Abacus Planning Group Inc. bought a new stake in Zevia PBC in the 4th quarter valued at $57,000. Hedge funds and other 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.