Telsey Advisory Group Reiterates “Market Perform” Rating for Zevia PBC (NYSE:ZVIA)

Telsey Advisory Group reaffirmed their market perform rating on shares of Zevia PBC (NYSE:ZVIA) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $2.00 price target on the stock.

Zevia PBC Stock Performance

Shares of ZVIA stock opened at $1.08 on Monday. Zevia PBC has a 1 year low of $0.62 and a 1 year high of $2.42. The business’s fifty day moving average is $1.09 and its 200-day moving average is $0.95. The stock has a market cap of $78.16 million, a PE ratio of -2.12 and a beta of 0.64.

Zevia PBC (NYSE:ZVIA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. Zevia PBC had a negative return on equity of 44.31% and a negative net margin of 16.98%. The business had revenue of $40.43 million for the quarter, compared to analysts’ expectations of $39.59 million. During the same period in the previous year, the firm posted ($0.08) EPS. Equities research analysts predict that Zevia PBC will post -0.36 earnings per share for the current year.

Insider Transactions at Zevia PBC

In other Zevia PBC news, major shareholder White Pine Llc sold 26,510 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $1.18, for a total transaction of $31,281.80. Following the completion of the sale, the insider now directly owns 1,577,628 shares in the company, valued at $1,861,601.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zevia PBC stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Zevia PBC (NYSE:ZVIA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 39,030 shares of the company’s stock, valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.05% of Zevia PBC at the end of the most recent reporting period. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

About Zevia PBC

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.