The Goldman Sachs Group Issues Positive Forecast for Zevia PBC (NYSE:ZVIA) Stock Price

Zevia PBC (NYSE:ZVIA - Get Free Report) had its target price increased by research analysts at The Goldman Sachs Group from $1.15 to $3.75 in a report released on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would suggest a potential downside of 7.64% from the company's previous close.

Separately, Telsey Advisory Group restated a "market perform" rating and set a $4.00 price target on shares of Zevia PBC in a research report on Tuesday.

Zevia PBC Price Performance

ZVIA stock traded up $0.01 on Tuesday, reaching $4.06. The company's stock had a trading volume of 2,477,998 shares, compared to its average volume of 1,325,762. The firm has a fifty day moving average of $3.01 and a two-hundred day moving average of $1.70. The company has a market capitalization of $296.44 million, a P/E ratio of -10.68 and a beta of 0.66. Zevia PBC has a 52 week low of $0.62 and a 52 week high of $4.78.

Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.07. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. The company had revenue of $36.37 million for the quarter, compared to analyst estimates of $38.53 million. During the same period last year, the company earned ($0.16) earnings per share. As a group, equities analysts expect that Zevia PBC will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rosemary L. Ripley sold 2,567,006 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 2,719,258 shares of the company's stock, valued at $5,166,590.20. This represents a 48.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zevia PBC

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in shares of Zevia PBC in the fourth quarter worth about $129,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Zevia PBC in the 3rd quarter valued at approximately $108,000. XTX Topco Ltd acquired a new position in Zevia PBC in the 3rd quarter worth approximately $50,000. Nwam LLC purchased a new position in Zevia PBC during the 3rd quarter worth approximately $39,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Zevia PBC during the 2nd quarter valued at $26,000. Institutional investors and hedge funds 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.