Zevia PBC (NYSE:ZVIA) Price Target Raised to $3.75 at The Goldman Sachs Group

Zevia PBC (NYSE:ZVIA) had its price target increased by The Goldman Sachs Group from $1.15 to $3.75 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Zevia PBC in a research note on Tuesday.

Zevia PBC Trading Up 0.2 %

NYSE:ZVIA opened at $4.06 on Tuesday. The company has a market cap of $296.44 million, a P/E ratio of -10.68 and a beta of 0.66. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $4.78. The company’s 50-day moving average price is $3.01 and its 200-day moving average price is $1.70.

Zevia PBC (NYSE:ZVIA) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $36.37 million for the quarter, compared to analyst estimates of $38.53 million. Zevia PBC had a negative net margin of 14.02% and a negative return on equity of 38.02%. During the same period last year, the company posted ($0.16) EPS. On average, analysts expect that Zevia PBC will post -0.3 earnings per share for the current year.

Insider Activity

In related news, Director Rosemary L. Ripley sold 2,567,006 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1.90, for a total transaction of $4,877,311.40. Following the completion of the sale, the director now directly owns 2,719,258 shares of the company’s stock, valued at approximately $5,166,590.20. This trade represents a 48.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Zevia PBC in the 2nd quarter worth approximately $26,000. Renaissance Technologies LLC raised its position in Zevia PBC by 128.7% in the second quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock valued at $47,000 after purchasing an additional 39,000 shares during the period. ORG Wealth Partners LLC acquired a new position in Zevia PBC during the fourth quarter worth $129,000. XTX Topco Ltd purchased a new position in shares of Zevia PBC during the third quarter worth $50,000. Finally, Nwam LLC acquired a new stake in shares of Zevia PBC in the third quarter valued at $39,000. Hedge funds and other institutional investors own 53.21% of the company’s stock.

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.