Zevia PBC (NYSE:ZVIA) Price Target Lowered to $4.00 at Wells Fargo & Company

Zevia PBC (NYSE:ZVIAGet Rating) had its target price lowered by Wells Fargo & Company from $4.50 to $4.00 in a report released on Friday, Marketbeat Ratings reports. The firm currently has an equal weight rating on the stock.

Several other equities research analysts have also weighed in on the stock. Morgan Stanley increased their price objective on shares of Zevia PBC from $3.50 to $3.75 and gave the stock an equal weight rating in a research note on Tuesday, October 4th. Telsey Advisory Group decreased their target price on shares of Zevia PBC from $6.00 to $5.50 and set an outperform rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Zevia PBC presently has a consensus rating of Moderate Buy and a consensus price target of $8.33.

Zevia PBC Stock Down 2.1 %

ZVIA opened at $3.72 on Friday. The firm has a market cap of $255.32 million, a price-to-earnings ratio of -2.78 and a beta of 0.31. Zevia PBC has a fifty-two week low of $1.86 and a fifty-two week high of $10.39. The company’s 50-day moving average price is $4.41 and its 200 day moving average price is $3.67.

Insiders Place Their Bets

In other Zevia PBC news, Director Padraic L. Spence sold 33,131 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $4.85, for a total value of $160,685.35. Following the completion of the transaction, the director now owns 2,397,868 shares in the company, valued at approximately $11,629,659.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Padraic L. Spence sold 33,130 shares of the stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $3.53, for a total value of $116,948.90. Following the completion of the transaction, the director now directly owns 2,331,342 shares in the company, valued at $8,229,637.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Padraic L. Spence sold 33,131 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $4.85, for a total transaction of $160,685.35. Following the completion of the transaction, the director now owns 2,397,868 shares of the company’s stock, valued at $11,629,659.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,657 shares of company stock worth $426,914. Insiders own 13.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Advisers LLC boosted its holdings in shares of Zevia PBC by 62.3% in the third quarter. Emerald Advisers LLC now owns 1,236,936 shares of the company’s stock valued at $5,344,000 after acquiring an additional 474,725 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Zevia PBC by 45.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 936,210 shares of the company’s stock worth $4,044,000 after buying an additional 291,845 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Zevia PBC by 1.3% during the first quarter. Vanguard Group Inc. now owns 533,976 shares of the company’s stock worth $2,441,000 after buying an additional 7,077 shares in the last quarter. BlackRock Inc. boosted its holdings in Zevia PBC by 3.6% during the first quarter. BlackRock Inc. now owns 499,708 shares of the company’s stock worth $2,284,000 after buying an additional 17,394 shares in the last quarter. Finally, Stephens Inc. AR boosted its holdings in Zevia PBC by 23.4% during the third quarter. Stephens Inc. AR now owns 281,739 shares of the company’s stock worth $1,217,000 after buying an additional 53,460 shares in the last quarter. 40.67% of the stock is currently owned by institutional investors.

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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