Zevia PBC (NYSE:ZVIA) Price Target Cut to $3.00 by Analysts at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA) had its price objective lowered by Telsey Advisory Group from $4.00 to $3.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, The Goldman Sachs Group upped their price objective 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

NYSE ZVIA opened at $2.23 on Thursday. The stock has a market capitalization of $162.46 million, a P/E ratio of -5.86 and a beta of 0.65. The firm’s 50-day moving average is $3.88 and its two-hundred day moving average is $2.36. Zevia PBC has a 12 month low of $0.62 and a 12 month high of $4.99.

Insider Buying and Selling

In other Zevia PBC news, Director Rosemary L. Ripley sold 2,567,006 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1.90, for a total value of $4,877,311.40. Following the completion of the transaction, the director now owns 2,719,258 shares in the company, valued at $5,166,590.20. The trade was a 48.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Amy Taylor sold 11,479 shares of the company’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 sale, the chief executive officer now directly owns 1,002,773 shares in the company, valued at $4,753,144.02. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,582,464 shares of company stock valued at $4,950,344. Corporate insiders own 12.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nwam LLC purchased a new stake in Zevia PBC during the 3rd quarter worth about $39,000. XTX Topco Ltd purchased a new stake in shares of Zevia PBC during the third quarter worth approximately $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Zevia PBC during the third quarter worth approximately $108,000. ORG Wealth Partners LLC acquired a new stake in Zevia PBC in the fourth quarter valued at approximately $129,000. Finally, Spire Wealth Management purchased a new position in Zevia PBC in the fourth quarter worth approximately $101,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

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.