Zevia PBC (NYSE:ZVIA) Shares Up 8%

Zevia PBC (NYSE:ZVIA) shares traded up 8% during mid-day trading on Wednesday . The stock traded as high as $0.84 and last traded at $0.75. 503,090 shares traded hands during mid-day trading, an increase of 150% from the average session volume of 201,214 shares. The stock had previously closed at $0.69.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ZVIA shares. The Goldman Sachs Group decreased their price target on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company dropped their price target on shares of Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Telsey Advisory Group cut their price objective on Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Finally, Morgan Stanley cut their price objective on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.21.

Zevia PBC Stock Performance

The company has a market capitalization of $53.86 million, a P/E ratio of -1.55 and a beta of 0.67. The business has a 50 day moving average of $0.90 and a 200-day moving average of $1.32.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Zevia PBC had a negative return on equity of 37.98% and a negative net margin of 15.58%. The firm had revenue of $38.80 million for the quarter, compared to analysts’ expectations of $39.82 million. During the same quarter last year, the firm posted ($0.04) EPS. As a group, equities analysts forecast that Zevia PBC will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In related news, CEO Amy Taylor purchased 55,000 shares of Zevia PBC stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average cost of $0.89 per share, for a total transaction of $48,950.00. Following the transaction, the chief executive officer now directly owns 1,014,252 shares in the company, valued at $902,684.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.55% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

An institutional investor recently bought a new position in Zevia PBC stock. Sapient Capital LLC bought a new stake in Zevia PBC (NYSE:ZVIA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,900 shares of the company’s stock, valued at approximately $122,000. Sapient Capital LLC owned 0.09% of Zevia PBC as of its most recent SEC filing. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Zevia PBC Company Profile

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.