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) in a report issued on Monday morning, Benzinga reports. The firm currently has a $2.00 price objective on the stock.

Zevia PBC Price Performance

NYSE:ZVIA opened at $1.09 on Monday. The firm has a market capitalization of $79.25 million, a P/E ratio of -2.18 and a beta of 0.64. The business has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $0.95. Zevia PBC has a 12-month low of $0.62 and a 12-month high of $2.42.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The company had revenue of $40.43 million during the quarter, compared to the consensus estimate of $39.59 million. Zevia PBC had a negative net margin of 16.98% and a negative return on equity of 44.31%. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Research analysts anticipate that Zevia PBC will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder White Pine Llc sold 26,510 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $1.18, for a total value of $31,281.80. Following the completion of the transaction, the insider now owns 1,577,628 shares in the company, valued at $1,861,601.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 12.55% of the stock is currently owned by insiders.

Institutional Trading of Zevia PBC

A hedge fund recently bought a new stake in Zevia PBC stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Zevia PBC (NYSE:ZVIA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 39,030 shares of the company’s stock, valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. owned 0.05% of Zevia PBC as of its most recent SEC filing. 53.21% of the stock is currently owned by 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.