Walleye Capital LLC Invests $95,000 in Zevia PBC $ZVIA

Walleye Capital LLC bought a new position in shares of Zevia PBC (NYSE:ZVIA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,139 shares of the company’s stock, valued at approximately $95,000. Walleye Capital LLC owned approximately 0.06% of Zevia PBC at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC lifted its position in shares of Zevia PBC by 87.1% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,323,885 shares of the company’s stock worth $5,547,000 after purchasing an additional 616,244 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in shares of Zevia PBC by 28.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 381,007 shares of the company’s stock worth $823,000 after purchasing an additional 83,778 shares in the last quarter. Soviero Asset Management LP bought a new stake in shares of Zevia PBC in the fourth quarter worth $880,000. Jane Street Group LLC raised its holdings in Zevia PBC by 481.7% in the fourth quarter. Jane Street Group LLC now owns 126,745 shares of the company’s stock valued at $531,000 after acquiring an additional 104,955 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Zevia PBC by 11.6% during the 4th quarter. Northern Trust Corp now owns 119,428 shares of the company’s stock valued at $500,000 after acquiring an additional 12,396 shares during the last quarter. 53.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ZVIA shares. Morgan Stanley increased their price objective on shares of Zevia PBC from $2.50 to $2.70 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. BMO Capital Markets increased their price objective on shares of Zevia PBC from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Telsey Advisory Group increased their price objective on shares of Zevia PBC from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4.61.

Zevia PBC Stock Performance

Shares of NYSE:ZVIA opened at $2.58 on Friday. The stock has a market capitalization of $193.00 million, a price-to-earnings ratio of -11.70 and a beta of 0.89. Zevia PBC has a 1-year low of $0.90 and a 1-year high of $4.99. The company’s fifty day moving average is $3.03 and its two-hundred day moving average is $2.72.

Zevia PBC (NYSE:ZVIA) last issued its earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $44.52 million for the quarter, compared to analysts’ expectations of $41.63 million. Zevia PBC had a negative net margin of 8.97% and a negative return on equity of 27.86%. Sell-side analysts expect that Zevia PBC will post -0.32 EPS for the current fiscal year.

Zevia PBC 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.