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

Zevia PBC (NYSE:ZVIA) had its price target reduced by Telsey Advisory Group from $4.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 23.71% from the company’s previous close.

Separately, The Goldman Sachs Group boosted 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 Stock Up 8.7 %

Zevia PBC stock opened at $2.43 on Thursday. The company’s 50-day moving average price is $3.86 and its 200-day moving average price is $2.37. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $4.99. The company has a market cap of $177.06 million, a PE ratio of -6.38 and a beta of 0.65.

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 dated 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 sale, the director now directly owns 2,719,258 shares of the company’s stock, valued at $5,166,590.20. The trade was a 48.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Taylor sold 11,479 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $4.74, for a total transaction of $54,410.46. Following the completion of the sale, the chief executive officer now directly owns 1,002,773 shares of the company’s stock, valued at approximately $4,753,144.02. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,582,464 shares of company stock valued at $4,950,344. Company insiders own 12.55% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

Several large investors have recently added to or reduced their stakes in the stock. Wolverine Trading LLC purchased a new stake in Zevia PBC in the 4th quarter valued at about $39,000. Soviero Asset Management LP purchased a new stake in Zevia PBC in the 4th quarter valued at about $880,000. Squarepoint Ops LLC purchased a new stake in Zevia PBC in the 4th quarter valued at about $139,000. Silvercrest Asset Management Group LLC lifted 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 worth $5,547,000 after purchasing an additional 616,244 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Zevia PBC by 44.4% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company’s stock worth $90,000 after purchasing an additional 6,610 shares during the period. 53.21% of the stock is 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.