Stephens Lowers Zevia PBC (NYSE:ZVIA) Price Target to $8.00

Zevia PBC (NYSE:ZVIAGet Rating) had its target price lowered by Stephens from $10.00 to $8.00 in a report published on Friday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on ZVIA. Wells Fargo & Company lowered their price target on Zevia PBC from $4.50 to $4.00 and set an equal weight rating on the stock in a report on Friday. Morgan Stanley lowered their price target on Zevia PBC from $3.75 to $3.50 and set an equal weight rating on the stock in a report on Friday. Finally, Telsey Advisory Group lowered their price target on Zevia PBC from $6.00 to $5.50 and set an outperform rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $8.33.

Zevia PBC Price Performance

NYSE ZVIA opened at $3.72 on Friday. The business’s fifty day moving average price is $4.41 and its 200-day moving average price is $3.67. The stock has a market capitalization of $255.32 million, a price-to-earnings ratio of -2.78 and a beta of 0.31. Zevia PBC has a 1-year low of $1.86 and a 1-year high of $10.39.

Insider Buying and Selling

In related news, Director Padraic L. Spence sold 33,130 shares of the firm’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $3.53, for a total value of $116,948.90. Following the transaction, the director now directly owns 2,331,342 shares of the company’s stock, valued at approximately $8,229,637.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Padraic L. Spence sold 33,130 shares of the firm’s stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $3.53, for a total value of $116,948.90. Following the transaction, the director now directly owns 2,331,342 shares of the company’s stock, valued at approximately $8,229,637.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Padraic L. Spence sold 33,131 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $4.85, for a total value of $160,685.35. Following the completion of the sale, the director now owns 2,397,868 shares of the company’s stock, valued at approximately $11,629,659.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,657 shares of company stock valued at $426,914. 13.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors have recently bought and sold shares of the business. Nwam LLC increased its stake in Zevia PBC by 14.3% in the 2nd quarter. Nwam LLC now owns 35,866 shares of the company’s stock worth $101,000 after buying an additional 4,500 shares in the last quarter. State Street Corp increased its stake in Zevia PBC by 3.5% in the 1st quarter. State Street Corp now owns 151,222 shares of the company’s stock worth $691,000 after buying an additional 5,089 shares in the last quarter. Stephens Inc. AR increased its stake in Zevia PBC by 2.4% in the 1st quarter. Stephens Inc. AR now owns 228,279 shares of the company’s stock worth $1,043,000 after buying an additional 5,445 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of Zevia PBC by 70.0% during the first quarter. Penserra Capital Management LLC now owns 13,296 shares of the company’s stock valued at $60,000 after purchasing an additional 5,476 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Zevia PBC by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 31,328 shares of the company’s stock valued at $144,000 after purchasing an additional 5,929 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company’s stock.

About Zevia PBC

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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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Analyst Recommendations for Zevia PBC (NYSE:ZVIA)

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