The Goldman Sachs Group Forecasts Strong Price Appreciation for Zevia PBC (NYSE:ZVIA) Stock

Zevia PBC (NYSE:ZVIA) had its price objective boosted by equities researchers at The Goldman Sachs Group from $1.15 to $3.75 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 14.97% from the stock’s current price.

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

Zevia PBC Stock Up 7.8 %

ZVIA opened at $4.41 on Tuesday. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $4.78. The company has a 50-day simple moving average of $3.01 and a 200 day simple moving average of $1.70.

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

Insiders Place Their Bets

In other news, Director Rosemary L. Ripley sold 2,567,006 shares of Zevia PBC stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1.90, for a total transaction of $4,877,311.40. Following the sale, the director now directly owns 2,719,258 shares of the company’s stock, valued at approximately $5,166,590.20. This trade represents a 48.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in Zevia PBC during the 4th quarter worth approximately $129,000. Nwam LLC acquired a new position in shares of Zevia PBC during the third quarter worth $39,000. Renaissance Technologies LLC grew its stake in shares of Zevia PBC by 128.7% in the second quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock worth $47,000 after purchasing an additional 39,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Zevia PBC in the second quarter valued at $26,000. Finally, XTX Topco Ltd bought a new position in Zevia PBC during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 53.21% of the company’s stock.

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.