Telsey Advisory Group Lowers Zevia PBC (NYSE:ZVIA) Price Target to $2.00

Zevia PBC (NYSE:ZVIAGet Free Report) had its price target cut by analysts at Telsey Advisory Group from $3.00 to $2.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 124.37% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley cut their target price on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. The Goldman Sachs Group cut their target price on Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Zevia PBC presently has a consensus rating of “Hold” and an average price target of $3.21.

Get Our Latest Analysis on Zevia PBC

Zevia PBC Price Performance

Shares of Zevia PBC stock traded up $0.02 during trading on Thursday, hitting $0.89. The stock had a trading volume of 221,255 shares, compared to its average volume of 211,524. The firm has a market cap of $64.05 million, a P/E ratio of -1.85 and a beta of 0.66. The business has a fifty day moving average of $1.07 and a two-hundred day moving average of $1.59. Zevia PBC has a fifty-two week low of $0.78 and a fifty-two week high of $4.80.

Zevia PBC (NYSE:ZVIAGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $38.80 million for the quarter, compared to analyst estimates of $39.82 million. Zevia PBC had a negative return on equity of 37.98% and a negative net margin of 15.58%. During the same period in the previous year, the firm earned ($0.04) earnings per share. As a group, research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current year.

Insider Activity at Zevia PBC

In other Zevia PBC news, Director Padraic L. Spence sold 36,300 shares of the company’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 transaction, the director now directly owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Zevia PBC news, CEO Amy Taylor sold 30,703 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $1.02, for a total value of $31,317.06. Following the transaction, the chief executive officer now directly owns 959,252 shares of the company’s stock, valued at approximately $978,437.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Padraic L. Spence sold 36,300 shares of the company’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 completion of the transaction, the director now directly owns 1,717,240 shares in the company, valued at $1,751,584.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,937 shares of company stock valued at $114,160. Company insiders own 12.55% of the company’s stock.

Institutional Trading of Zevia PBC

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Zevia PBC during the 3rd quarter worth about $31,000. Sapient Capital LLC bought a new stake in shares of Zevia PBC during the 4th quarter worth about $41,000. Finally, Kennedy Capital Management LLC boosted its stake in shares of 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 acquiring an additional 219,932 shares in the last quarter. Institutional investors own 53.21% of the company’s stock.

Zevia PBC Company Profile

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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.

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Analyst Recommendations for Zevia PBC (NYSE:ZVIA)

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