David J. Lee Acquires 13,705 Shares of Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) Director David J. Lee acquired 13,705 shares of the business’s stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $1.09 per share, for a total transaction of $14,938.45. Following the transaction, the director now directly owns 172,776 shares in the company, valued at $188,325.84. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Zevia PBC Stock Down 6.4 %

Shares of ZVIA opened at $1.03 on Thursday. The company has a 50 day moving average of $0.86 and a two-hundred day moving average of $1.02. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $2.87. The company has a market cap of $74.89 million, a price-to-earnings ratio of -2.15 and a beta of 0.64.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $40.43 million for the quarter, compared to analyst estimates of $39.59 million. Zevia PBC had a negative return on equity of 44.31% and a negative net margin of 16.98%. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, sell-side analysts expect that Zevia PBC will post -0.36 EPS for the current year.

Institutional Trading of Zevia PBC

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Zevia PBC in the 2nd quarter worth approximately $26,000. Renaissance Technologies LLC raised its position in shares of Zevia PBC by 128.7% in the second quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock worth $47,000 after acquiring an additional 39,000 shares during the period. Finally, Sapient Capital LLC purchased a new stake in shares of Zevia PBC during the 4th quarter worth about $122,000. 53.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Telsey Advisory Group dropped their target price on shares of Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Thursday, May 9th. Wells Fargo & Company cut their target price 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. Finally, The Goldman Sachs Group dropped their price objective on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a research note on Thursday, May 9th.

About Zevia PBC

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.