Stonnington Group LLC increased its holdings in shares of Zevia PBC (NYSE:ZVIA – Get Rating) by 38.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 270,874 shares of the company's stock after purchasing an additional 74,800 shares during the quarter. Stonnington Group LLC's holdings in Zevia PBC were worth $991,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ZVIA. Emerald Mutual Fund Advisers Trust grew its stake in shares of Zevia PBC by 115.9% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 644,365 shares of the company's stock valued at $1,811,000 after buying an additional 345,969 shares during the period. Emerald Advisers LLC grew its position in Zevia PBC by 18.4% during the second quarter. Emerald Advisers LLC now owns 762,211 shares of the company's stock valued at $2,142,000 after acquiring an additional 118,504 shares during the period. Renaissance Technologies LLC increased its stake in Zevia PBC by 92.8% during the first quarter. Renaissance Technologies LLC now owns 158,297 shares of the company's stock worth $723,000 after acquiring an additional 76,174 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Zevia PBC by 356.2% in the 2nd quarter. Millennium Management LLC now owns 92,140 shares of the company's stock worth $259,000 after purchasing an additional 71,943 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Zevia PBC in the 2nd quarter valued at about $144,000. 43.28% of the stock is owned by institutional investors and hedge funds.
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Analyst Ratings Changes
Several research analysts recently commented on the stock. Telsey Advisory Group cut their price target 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 cut their target price on shares of Zevia PBC from $4.50 to $4.00 and set an "equal weight" rating on the stock in a research note on Friday, November 11th. Morgan Stanley decreased their price target on shares of Zevia PBC from $3.75 to $3.50 and set an "equal weight" rating for the company in a research report on Friday, November 11th. Finally, Stephens cut their price objective on Zevia PBC from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, November 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.33.
Insider Buying and Selling
In other Zevia PBC news, Director Padraic L. Spence sold 33,893 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $3.53, for a total transaction of $119,642.29. Following the transaction, the director now owns 2,297,449 shares of the company's stock, valued at approximately $8,109,994.97. The transaction was disclosed in a document filed with the SEC, which is available at
this link. In other Zevia PBC news, Director Padraic L. Spence sold 33,893 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $3.53, for a total transaction of $119,642.29. Following the sale, the director now directly owns 2,297,449 shares of the company's stock, valued at $8,109,994.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
the SEC website. Also, Director Padraic L. Spence sold 19,989 shares of Zevia PBC stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $3.74, for a total transaction of $74,758.86. Following the completion of the transaction, the director now directly owns 2,277,460 shares of the company's stock, valued at $8,517,700.40. The disclosure for this sale can be found
here. Over the last quarter, insiders sold 87,012 shares of company stock worth $311,350. Insiders own 13.61% of the company's stock.
Zevia PBC Stock Down 0.3 %
ZVIA opened at $3.56 on Wednesday. Zevia PBC has a twelve month low of $1.86 and a twelve month high of $10.39. The company has a fifty day simple moving average of $4.11 and a 200 day simple moving average of $3.95.
Zevia PBC (NYSE:ZVIA – Get Rating) last announced its earnings results on Thursday, November 10th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. Zevia PBC had a negative return on equity of 53.59% and a negative net margin of 30.64%. The company had revenue of $44.24 million during the quarter, compared to the consensus estimate of $47.79 million. Equities research analysts forecast that Zevia PBC will post -0.92 earnings per share for the current fiscal year.
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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