Zevia PBC (NYSE:ZVIA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Zevia PBC (NYSE:ZVIA) had its target price lifted by research analysts at The Goldman Sachs Group from $1.15 to $3.75 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 9.20% from the company’s current price.

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

Zevia PBC Trading Up 2.0 %

ZVIA opened at $4.13 on Tuesday. Zevia PBC has a 1-year low of $0.62 and a 1-year high of $4.78. The company has a fifty day moving average price of $2.95 and a two-hundred day moving average price of $1.68. The company has a market cap of $301.55 million, a P/E ratio of -10.87 and a beta of 0.66.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $36.37 million during the quarter, compared to the consensus estimate 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 quarter last year, the company posted ($0.16) earnings per share. On average, research analysts forecast that Zevia PBC will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Zevia PBC

In other Zevia PBC news, Director Rosemary L. Ripley sold 2,567,006 shares of the stock in a transaction on Thursday, December 5th. The shares were 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 owns 2,719,258 shares of the company’s stock, valued at $5,166,590.20. This represents a 48.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zevia PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in Zevia PBC in the 3rd quarter worth approximately $108,000. XTX Topco Ltd bought a new position in Zevia PBC in the third quarter worth approximately $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Zevia PBC during the second quarter valued at $26,000. Renaissance Technologies LLC grew its stake in shares of Zevia PBC by 128.7% during the 2nd quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock valued at $47,000 after acquiring an additional 39,000 shares during the period. Finally, Nwam LLC purchased a new stake in shares of Zevia PBC in the third quarter worth $39,000. Hedge funds and other institutional investors own 53.21% of the company’s stock.

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.