Zevia PBC (NYSE:ZVIA) Given New $1.00 Price Target at Wells Fargo & Company

Zevia PBC (NYSE:ZVIA) had its target price reduced by investment analysts at Wells Fargo & Company from $1.25 to $1.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.94% from the company’s current price.

Other research analysts have also issued research reports about the stock. Telsey Advisory Group dropped their price target on shares of Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Thursday. 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 report on Thursday. Finally, Morgan Stanley decreased their price target on Zevia PBC from $3.00 to $2.00 and set an “equal weight” rating for the company 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.21.

Zevia PBC Price Performance

ZVIA traded up $0.01 on Thursday, reaching $0.87. 121,447 shares of the company traded hands, compared to its average volume of 162,200. The company has a market cap of $62.51 million, a price-to-earnings ratio of -2.07 and a beta of 0.66. The stock’s 50 day moving average price is $1.10 and its 200-day moving average price is $1.60. Zevia PBC has a 52-week low of $0.78 and a 52-week high of $4.80.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Zevia PBC had a negative net margin of 12.91% and a negative return on equity of 29.55%. The business had revenue of $38.80 million for the quarter, compared to the consensus estimate of $39.82 million. During the same period in the prior year, the business posted ($0.04) earnings per share. As a group, equities research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Padraic L. Spence sold 36,300 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $1.02, for a total transaction of $37,026.00. Following the transaction, the director now directly owns 1,717,240 shares in the company, valued at $1,751,584.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Padraic L. Spence sold 26,199 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $1.32, for a total value of $34,582.68. Following the sale, the director now owns 1,753,540 shares of the company’s stock, valued at $2,314,672.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $37,026.00. Following the transaction, the director now owns 1,717,240 shares of the company’s stock, valued at approximately $1,751,584.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,937 shares of company stock valued at $114,160. 12.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zevia PBC

A number of hedge funds have recently modified their holdings of ZVIA. Kennedy Capital Management LLC lifted its holdings in Zevia PBC by 51.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 645,041 shares of the company’s stock valued at $1,432,000 after purchasing an additional 219,932 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Zevia PBC in the fourth quarter valued at approximately $122,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Zevia PBC in the 3rd quarter worth approximately $31,000. 53.21% of the stock is owned by institutional investors and hedge funds.

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.