Zevia PBC (NYSE:ZVIA) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Zevia PBC (NYSE:ZVIA - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $4.00 target price on the stock.

Zevia PBC Stock Up 0.2 %

Zevia PBC stock traded up $0.01 during midday trading on Tuesday, hitting $4.06. 2,477,998 shares of the stock were exchanged, compared to its average volume of 1,325,762. Zevia PBC has a 52-week low of $0.62 and a 52-week high of $4.78. The business's 50-day moving average price is $3.01 and its 200-day moving average price is $1.70. The stock has a market capitalization of $296.44 million, a price-to-earnings ratio of -10.68 and a beta of 0.66.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. The company had revenue of $36.37 million during the quarter, compared to analyst estimates of $38.53 million. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, sell-side analysts predict that Zevia PBC will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Zevia PBC

In other Zevia PBC news, Director Rosemary L. Ripley sold 2,567,006 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1.90, for a total value of $4,877,311.40. Following the completion of the transaction, the director now owns 2,719,258 shares in the company, valued at $5,166,590.20. This trade represents a 48.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.55% of the company's stock.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors and hedge funds have recently modified their holdings of ZVIA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Zevia PBC in the 2nd quarter valued at about $26,000. Renaissance Technologies LLC lifted its position in Zevia PBC by 128.7% during the second quarter. Renaissance Technologies LLC now owns 69,300 shares of the company's stock valued at $47,000 after purchasing an additional 39,000 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Zevia PBC in the 4th quarter worth approximately $129,000. XTX Topco Ltd bought a new position in shares of Zevia PBC in the 3rd quarter worth $50,000. Finally, Nwam LLC purchased a new stake in shares of Zevia PBC during the 3rd quarter valued at $39,000. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.