Telsey Advisory Group Cuts Zevia PBC (NYSE:ZVIA) Price Target to $3.00

Zevia PBC (NYSE:ZVIA) had its target price lowered by Telsey Advisory Group from $4.00 to $3.00 in a research report report published on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the stock.

Separately, The Goldman Sachs Group increased their price target on shares of Zevia PBC from $1.15 to $3.75 and gave the stock a “neutral” rating in a report on Tuesday, January 14th.

Zevia PBC Trading Up 8.7 %

Shares of Zevia PBC stock opened at $2.43 on Thursday. Zevia PBC has a 12-month low of $0.62 and a 12-month high of $4.99. The company has a market cap of $177.06 million, a price-to-earnings ratio of -6.38 and a beta of 0.65. The company’s 50-day moving average price is $3.86 and its 200-day moving average price is $2.38.

Insider Transactions at Zevia PBC

In related news, CEO Amy Taylor sold 11,479 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $4.74, for a total value of $54,410.46. Following the sale, the chief executive officer now directly owns 1,002,773 shares of the company’s stock, valued at $4,753,144.02. This trade represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rosemary L. Ripley sold 2,567,006 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1.90, for a total transaction of $4,877,311.40. Following the completion of the sale, the director now directly owns 2,719,258 shares in the company, valued at $5,166,590.20. This represents a 48.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,582,464 shares of company stock valued at $4,950,344. 12.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors and hedge funds have recently bought and sold shares of ZVIA. ArrowMark Colorado Holdings LLC purchased a new stake in Zevia PBC in the fourth quarter valued at approximately $4,190,000. Silvercrest Asset Management Group LLC raised its stake in Zevia PBC by 87.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,323,885 shares of the company’s stock valued at $5,547,000 after purchasing an additional 616,244 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Zevia PBC during the fourth quarter worth approximately $1,245,000. Soviero Asset Management LP purchased a new position in shares of Zevia PBC during the fourth quarter worth approximately $880,000. Finally, Marshall Wace LLP purchased a new position in shares of Zevia PBC during the fourth quarter worth approximately $858,000. 53.21% of the stock is 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.