Anchor Capital Advisors LLC Cuts Position in Zevia PBC (NYSE:ZVIA)

Anchor Capital Advisors LLC lowered its holdings in Zevia PBC (NYSE:ZVIA) by 84.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,412 shares of the company’s stock after selling 217,345 shares during the quarter. Anchor Capital Advisors LLC owned 0.06% of Zevia PBC worth $79,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ZVIA. Sapient Capital LLC purchased a new stake in Zevia PBC during the fourth quarter worth about $41,000. 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. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Zevia PBC in the 3rd quarter worth approximately $31,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ZVIA shares. Morgan Stanley reduced their price objective on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price target on shares of Zevia PBC in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Zevia PBC currently has an average rating of “Hold” and a consensus price target of $4.17.

Insiders Place Their Bets

In other Zevia PBC news, Director Padraic L. Spence sold 36,300 shares of Zevia PBC stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $1.02, for a total value of $37,026.00. Following the completion of the sale, the director now directly owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zevia PBC news, CEO Amy Taylor sold 30,703 shares of Zevia PBC 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 completion of the sale, the chief executive officer now owns 959,252 shares in the company, valued at approximately $978,437.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Padraic L. Spence sold 36,300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total transaction of $37,026.00. Following the completion of the sale, 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. Insiders have sold 103,937 shares of company stock valued at $114,160 in the last ninety days. Insiders own 11.73% of the company’s stock.

Zevia PBC Trading Down 11.2 %

Shares of NYSE:ZVIA opened at $0.86 on Wednesday. The business’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.64. Zevia PBC has a one year low of $0.78 and a one year high of $4.80.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) 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 for the quarter, compared to analyst estimates of $37.75 million. During the same period in the previous year, the business earned ($0.10) EPS. As a group, sell-side analysts expect that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

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.