Zevia PBC’s (ZVIA) Market Perform Rating Reaffirmed at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA)‘s stock had its “market perform” rating reaffirmed by equities researchers at Telsey Advisory Group in a report released on Monday, Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s price objective points to a potential upside of 83.49% from the company’s current price.

Zevia PBC Price Performance

Shares of NYSE ZVIA opened at $1.09 on Monday. Zevia PBC has a 52 week low of $0.62 and a 52 week high of $2.42. The business’s 50 day moving average price is $1.09 and its 200 day moving average price is $0.95. The firm has a market cap of $79.25 million, a P/E ratio of -2.16 and a beta of 0.64.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Zevia PBC had a negative net margin of 16.98% and a negative return on equity of 44.31%. The company had revenue of $40.43 million during the quarter, compared to the consensus estimate of $39.59 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, research analysts expect that Zevia PBC will post -0.36 earnings per share for the current year.

Insider Activity at Zevia PBC

In other Zevia PBC news, major shareholder White Pine Llc sold 26,510 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $1.18, for a total transaction of $31,281.80. Following the completion of the transaction, the insider now directly owns 1,577,628 shares in the company, valued at approximately $1,861,601.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.55% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

A hedge fund recently raised its stake in Zevia PBC stock. Renaissance Technologies LLC increased its position in shares of Zevia PBC (NYSE:ZVIA) by 128.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,300 shares of the company’s stock after buying an additional 39,000 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Zevia PBC worth $47,000 at the end of the most recent reporting period. 53.21% of the stock is owned by hedge funds and other institutional investors.

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.