Zevia PBC (NYSE:ZVIA) Trading Up 8%

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

Analysts Set New Price Targets

ZVIA has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group decreased their price objective on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Finally, Telsey Advisory Group lowered their price target on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a report 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.21.

Zevia PBC Price Performance

The company has a market capitalization of $48.82 million, a P/E ratio of -1.48 and a beta of 0.67. The stock’s fifty day simple moving average is $0.89 and its 200-day simple moving average is $1.32.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). The business had revenue of $38.80 million during the quarter, compared to analysts’ expectations of $39.82 million. Zevia PBC had a negative return on equity of 37.98% and a negative net margin of 15.58%. During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, research analysts predict that Zevia PBC will post -0.37 earnings per share for the current year.

Insider Transactions at Zevia PBC

In related news, CEO Amy Taylor bought 55,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $0.89 per share, with a total value of $48,950.00. Following the completion of the transaction, the chief executive officer now owns 1,014,252 shares of the company’s stock, valued at approximately $902,684.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zevia PBC stock. Sapient Capital LLC purchased a new stake in Zevia PBC (NYSE:ZVIA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,300 shares of the company’s stock, valued at approximately $41,000. 53.21% of the stock is currently owned by 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.