Zevia PBC (NYSE:ZVIA) Director Padraic L. Spence sold 33,893 shares of the firm's stock in a transaction on Friday, November 18th. The stock was sold at an average price of $3.53, for a total value of $119,642.29. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.
Zevia PBC Price Performance
Shares of NYSE:ZVIA traded up $0.06 during midday trading on Tuesday, reaching $3.76. The company's stock had a trading volume of 127,724 shares, compared to its average volume of 229,657. Zevia PBC has a fifty-two week low of $1.86 and a fifty-two week high of $10.39. The company has a market capitalization of $258.97 million, a P/E ratio of -2.60 and a beta of 0.31. The business's fifty day simple moving average is $4.27 and its 200-day simple moving average is $3.68.
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Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Zevia PBC from $4.50 to $4.00 and set an "equal weight" rating for the company in a research note on Friday, November 11th. Morgan Stanley dropped their price objective on Zevia PBC from $3.75 to $3.50 and set an "equal weight" rating for the company in a research note on Friday, November 11th. Stephens dropped their price objective on Zevia PBC from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, November 11th. Finally, Telsey Advisory Group lowered their target price on Zevia PBC from $6.00 to $5.50 and set an "outperform" rating for the company in a research note on Friday, November 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.33.
Institutional Trading of Zevia PBC
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Zevia PBC in the second quarter valued at $42,000. Prelude Capital Management LLC acquired a new stake in Zevia PBC in the second quarter worth about $47,000. Qube Research & Technologies Ltd acquired a new stake in Zevia PBC in the first quarter worth about $58,000. Penserra Capital Management LLC increased its position in Zevia PBC by 70.0% in the first quarter. Penserra Capital Management LLC now owns 13,296 shares of the company's stock worth $60,000 after purchasing an additional 5,476 shares during the period. Finally, Paradigm Financial Partners LLC acquired a new stake in Zevia PBC in the second quarter worth about $64,000. 40.67% of the stock is currently owned by institutional investors and hedge funds.
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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