Zevia PBC (NYSE:ZVIA – Get Rating) shares fell 2.3% during trading on Tuesday . The stock traded as low as $4.18 and last traded at $4.22. 198,751 shares were traded during mid-day trading, a decline of 12% from the average session volume of 225,258 shares. The stock had previously closed at $4.32.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on ZVIA. Morgan Stanley dropped their target price on shares of Zevia PBC from $3.75 to $3.50 and set an "equal weight" rating on the stock in a report on Friday, November 11th. Telsey Advisory Group dropped their price objective on shares of Zevia PBC from $6.00 to $5.50 and set an "outperform" rating on the stock in a report on Friday, November 11th. Wells Fargo & Company dropped their price objective on shares of Zevia PBC from $4.50 to $4.00 and set an "equal weight" rating on the stock in a report on Friday, November 11th. Finally, Stephens dropped their price objective on shares of Zevia PBC from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, November 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.33.
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Zevia PBC Stock Performance
The firm's 50-day moving average price is $4.17 and its two-hundred day moving average price is $3.87. The firm has a market capitalization of $290.66 million, a price-to-earnings ratio of -3.15 and a beta of 0.25.
Insider Activity
In other news, Director Padraic L. Spence sold 33,396 shares of Zevia PBC stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $4.47, for a total transaction of $149,280.12. Following the sale, the director now directly owns 2,364,472 shares in the company, valued at approximately $10,569,189.84. The sale was disclosed in a document filed with the SEC, which is available through
this hyperlink. In other Zevia PBC news, Director Padraic L. Spence sold 33,130 shares of the business's stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $3.53, for a total value of $116,948.90. Following the transaction, the director now directly owns 2,331,342 shares in the company, valued at $8,229,637.26. The transaction was disclosed in a document filed with the SEC, which is available through
this link. Also, Director Padraic L. Spence sold 33,396 shares of the business's stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $4.47, for a total transaction of $149,280.12. Following the completion of the transaction, the director now owns 2,364,472 shares in the company, valued at $10,569,189.84. The disclosure for this sale can be found
here. In the last three months, insiders have sold 100,419 shares of company stock worth $385,871. Corporate insiders own 13.61% of the company's stock.
Hedge Funds Weigh In On Zevia PBC
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZVIA. Qube Research & Technologies Ltd acquired a new position in Zevia PBC in the first quarter valued at about $58,000. Bank of New York Mellon Corp boosted its position in Zevia PBC by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 31,328 shares of the company's stock valued at $144,000 after buying an additional 5,929 shares in the last quarter. Nwam LLC acquired a new position in Zevia PBC in the first quarter valued at about $143,000. BlackRock Inc. boosted its position in Zevia PBC by 3.6% in the first quarter. BlackRock Inc. now owns 499,708 shares of the company's stock valued at $2,284,000 after buying an additional 17,394 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Zevia PBC by 1.3% in the first quarter. Vanguard Group Inc. now owns 533,976 shares of the company's stock valued at $2,441,000 after buying an additional 7,077 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors and hedge funds.
About Zevia PBC
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Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.
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