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Padraic L. Spence Sells 33,893 Shares of Zevia PBC (NYSE:ZVIA) Stock

Financial News Live ·  Nov 22, 2022 19:01

Zevia PBC (NYSE:ZVIA – Get Rating) Director Padraic L. Spence sold 33,893 shares of the firm's stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $3.53, for a total value of $119,642.29. Following the transaction, the director now owns 2,297,449 shares in the company, valued at approximately $8,109,994.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Zevia PBC Stock Performance

Zevia PBC stock traded up $0.06 during midday trading on Tuesday, reaching $3.76. The stock had a trading volume of 127,724 shares, compared to its average volume of 229,657. The firm's fifty day simple moving average is $4.27 and its 200-day simple moving average is $3.68. Zevia PBC has a 1-year low of $1.86 and a 1-year high of $10.39. The stock has a market capitalization of $258.97 million, a P/E ratio of -2.60 and a beta of 0.31.

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Wall Street Analysts Forecast Growth

ZVIA has been the topic of a number of recent analyst reports. Telsey Advisory Group reduced their target price on 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 price objective on Zevia PBC from $4.50 to $4.00 and set an "equal weight" rating on the stock in a report on Friday, November 11th. Stephens cut their price objective on Zevia PBC from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, November 11th. Finally, Morgan Stanley cut their price objective on Zevia PBC from $3.75 to $3.50 and set an "equal weight" 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Emerald Advisers LLC increased its position in shares of Zevia PBC by 62.3% during the 3rd quarter. Emerald Advisers LLC now owns 1,236,936 shares of the company's stock worth $5,344,000 after purchasing an additional 474,725 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Zevia PBC by 45.3% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 936,210 shares of the company's stock worth $4,044,000 after purchasing an additional 291,845 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Zevia PBC by 80.8% during the 3rd quarter. Vanguard Group Inc. now owns 874,598 shares of the company's stock worth $3,778,000 after purchasing an additional 390,761 shares during the last quarter. BlackRock Inc. increased its position in shares of Zevia PBC by 3.6% during the 1st quarter. BlackRock Inc. now owns 499,708 shares of the company's stock worth $2,284,000 after purchasing an additional 17,394 shares during the last quarter. Finally, Stephens Inc. AR increased its position in shares of Zevia PBC by 23.4% during the 3rd quarter. Stephens Inc. AR now owns 281,739 shares of the company's stock worth $1,217,000 after purchasing an additional 53,460 shares during the last quarter. Institutional investors and hedge funds own 40.67% of the company's stock.

Zevia PBC Company Profile

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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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