Zevia PBC (NYSE:ZVIA – Get Rating) had its price objective increased by equities researchers at Morgan Stanley from $3.50 to $3.75 in a note issued to investors on Tuesday, Stock Target Advisor reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential downside of 13.79% from the company's previous close.
Separately, Wells Fargo & Company upped their target price on shares of Zevia PBC from $3.50 to $4.50 and gave the stock an "equal weight" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.54.
Get Zevia PBC alerts:Zevia PBC Trading Down 0.2 %
ZVIA stock traded down $0.01 during midday trading on Tuesday, reaching $4.35. 1,059 shares of the company's stock traded hands, compared to its average volume of 189,737. Zevia PBC has a 52-week low of $1.86 and a 52-week high of $13.92. The stock has a market cap of $298.54 million, a P/E ratio of -2.25 and a beta of 0.09. The stock's 50-day moving average is $4.32 and its 200 day moving average is $3.65.
Insider Activity
In other news, Director Padraic L. Spence sold 33,131 shares of the company's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $4.85, for a total transaction of $160,685.35. Following the transaction, the director now owns 2,397,868 shares of the company's stock, valued at $11,629,659.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Padraic L. Spence sold 33,396 shares of the business's stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $4.47, for a total value of $149,280.12. Following the completion of the sale, the director now owns 2,364,472 shares in the company, valued at $10,569,189.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Padraic L. Spence sold 33,131 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $4.85, for a total value of $160,685.35. Following the completion of the sale, the director now owns 2,397,868 shares of the company's stock, valued at approximately $11,629,659.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,971 shares of company stock valued at $410,217. 13.61% of the stock is currently owned by insiders.Institutional Trading of Zevia PBC
Hedge funds have recently bought and sold shares of the stock. Nwam LLC increased its position in shares of Zevia PBC by 14.3% during the second quarter. Nwam LLC now owns 35,866 shares of the company's stock worth $101,000 after purchasing an additional 4,500 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Zevia PBC by 3.2% during the fourth quarter. Squarepoint Ops LLC now owns 154,858 shares of the company's stock worth $1,092,000 after purchasing an additional 4,858 shares in the last quarter. State Street Corp increased its position in shares of Zevia PBC by 3.5% during the first quarter. State Street Corp now owns 151,222 shares of the company's stock worth $691,000 after purchasing an additional 5,089 shares in the last quarter. Stephens Inc. AR increased its position in shares of Zevia PBC by 2.4% during the first quarter. Stephens Inc. AR now owns 228,279 shares of the company's stock worth $1,043,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Zevia PBC by 70.0% during the first quarter. Penserra Capital Management LLC now owns 13,296 shares of the company's stock worth $60,000 after purchasing an additional 5,476 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company's stock.
Zevia PBC Company Profile
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Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.
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