Key Points
- Major shareholder De Depot Et Placement Caisse sold 2.15 million Zevia PBC shares at an average price of $1.90, totaling about $4.1 million. The stake sale reduced its ownership by 15.87% and was disclosed in an SEC filing.
- Zevia shares were under pressure, opening at $1.60 and trading near the lower end of their 12-month range of $1.11 to $3.66. The company has a market value of about $122.8 million.
- Recent results were mixed but slightly better on revenue: Zevia reported EPS of -$0.03, in line with expectations, while revenue of $46.09 million topped analyst estimates. Wall Street currently has a consensus rating of Hold with a target price of $4.43.
Zevia PBC (NYSE:ZVIA - Get Free Report) major shareholder De Depot Et Placement Caisse sold 2,150,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the completion of the transaction, the insider owned 11,400,428 shares of the company's stock, valued at $21,660,813.20. This trade represents a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Zevia PBC Trading Down 7.3%
Shares of NYSE ZVIA opened at $1.60 on Friday. Zevia PBC has a 12 month low of $1.11 and a 12 month high of $3.66. The firm has a market capitalization of $122.78 million, a PE ratio of -15.95 and a beta of 0.95. The firm has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.78.
Zevia PBC (NYSE:ZVIA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. The business had revenue of $46.09 million during the quarter, compared to analyst estimates of $40.97 million. On average, sell-side analysts predict that Zevia PBC will post -0.1 earnings per share for the current year.
Wall Street Analysts Forecast Growth
ZVIA has been the subject of several research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Zevia PBC in a research report on Monday, April 20th. Telsey Advisory Group decreased their target price on Zevia PBC from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.43.
Read Our Latest Stock Report on Zevia PBC
Institutional Trading of Zevia PBC
Several institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its position in Zevia PBC by 6.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 131,042 shares of the company's stock valued at $303,000 after purchasing an additional 8,237 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of Zevia PBC by 45.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company's stock worth $77,000 after purchasing an additional 8,787 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Zevia PBC in the 4th quarter worth $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Zevia PBC in the 4th quarter worth $27,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Zevia PBC in the 4th quarter worth $28,000. 53.21% of the stock is owned by hedge funds and other institutional investors.
Zevia PBC Company Profile
(
Get Free Report)
Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia's mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.
The company's product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
