Zevia PBC (NYSE:ZVIA) Director Sells $37,026.00 in Stock

Zevia PBC (NYSE:ZVIA) Director Padraic L. Spence sold 36,300 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total value of $37,026.00. Following the sale, the director now directly owns 1,717,240 shares of the company’s stock, valued at $1,751,584.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Zevia PBC Stock Performance

Zevia PBC stock opened at $1.17 on Friday. The company’s 50 day simple moving average is $1.47 and its 200-day simple moving average is $1.84. The company has a market capitalization of $84.06 million, a price-to-earnings ratio of -2.79 and a beta of 0.61. Zevia PBC has a 1 year low of $0.98 and a 1 year high of $4.80.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. The company had revenue of $37.79 million during the quarter, compared to analysts’ expectations of $37.75 million. During the same period last year, the firm posted ($0.10) earnings per share. Equities analysts expect that Zevia PBC will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Zevia PBC

Large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC increased its stake in Zevia PBC by 51.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 645,041 shares of the company’s stock worth $1,432,000 after buying an additional 219,932 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Zevia PBC during the 3rd quarter worth approximately $31,000. Bessemer Group Inc. purchased a new stake in Zevia PBC during the 2nd quarter worth approximately $27,000. Penserra Capital Management LLC increased its stake in Zevia PBC by 97.5% during the 2nd quarter. Penserra Capital Management LLC now owns 30,260 shares of the company’s stock worth $130,000 after buying an additional 14,940 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its stake in Zevia PBC by 16.2% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 805,148 shares of the company’s stock worth $3,470,000 after buying an additional 112,208 shares during the period. 53.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Zevia PBC in a research report on Wednesday, February 21st. Morgan Stanley reduced their price target on shares of Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zevia PBC currently has a consensus rating of “Hold” and an average price target of $4.17.

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.