Zevia PBC (NYSE:ZVIA) Given New $3.00 Price Target at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA) had its target price reduced by equities researchers at Telsey Advisory Group from $4.00 to $3.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 31.29% from the stock’s previous close.

Separately, The Goldman Sachs Group lifted their target price on shares of Zevia PBC from $1.15 to $3.75 and gave the stock a “neutral” rating in a report on Tuesday, January 14th.

Zevia PBC Price Performance

ZVIA stock opened at $2.29 on Thursday. Zevia PBC has a one year low of $0.62 and a one year high of $4.99. The stock has a market cap of $166.84 million, a price-to-earnings ratio of -6.01 and a beta of 0.65. The company has a fifty day moving average price of $3.90 and a two-hundred day moving average price of $2.36.

Insider Activity

In related news, Director Rosemary L. Ripley sold 2,567,006 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1.90, for a total value of $4,877,311.40. Following the completion of the sale, the director now directly owns 2,719,258 shares in the company, valued at approximately $5,166,590.20. The trade was a 48.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amy Taylor sold 11,479 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $4.74, for a total value of $54,410.46. Following the transaction, the chief executive officer now owns 1,002,773 shares in the company, valued at approximately $4,753,144.02. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,582,464 shares of company stock valued at $4,950,344. 12.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

A number of large investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC raised its position in shares of Zevia PBC by 87.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,323,885 shares of the company’s stock valued at $5,547,000 after buying an additional 616,244 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Zevia PBC during the 4th quarter worth approximately $4,190,000. Geode Capital Management LLC increased its stake in Zevia PBC by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 539,652 shares of the company’s stock valued at $2,262,000 after acquiring an additional 3,177 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Zevia PBC during the fourth quarter valued at approximately $1,245,000. Finally, Soviero Asset Management LP bought a new stake in Zevia PBC during the fourth quarter worth $880,000. 53.21% of the stock is currently 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.