Jacobs Levy Equity Management Inc. Purchases 524,675 Shares of Zevia PBC $ZVIA

Jacobs Levy Equity Management Inc. boosted its position in Zevia PBC (NYSE:ZVIA) by 2,701.2% during the 1st quarter, Holdings Channel reports. The fund owned 544,099 shares of the company’s stock after buying an additional 524,675 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Zevia PBC were worth $1,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZVIA. Stifel Financial Corp bought a new position in Zevia PBC in the fourth quarter worth approximately $42,000. Northern Trust Corp lifted its position in Zevia PBC by 11.6% in 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 in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Zevia PBC during the 4th quarter valued at about $45,000. Jane Street Group LLC boosted its stake in Zevia PBC by 481.7% during the 4th quarter. Jane Street Group LLC now owns 126,745 shares of the company’s stock valued at $531,000 after purchasing an additional 104,955 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Zevia PBC by 2,845.4% during the 4th quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after purchasing an additional 15,280 shares during the last quarter. Institutional investors own 53.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Telsey Advisory Group raised their target price on Zevia PBC from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, August 14th. Morgan Stanley raised their target price on Zevia PBC from $2.50 to $2.70 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets raised their target price on Zevia PBC from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.61.

Zevia PBC Trading Up 1.2%

Shares of Zevia PBC stock opened at $2.48 on Friday. The business’s fifty day simple moving average is $2.97 and its 200 day simple moving average is $2.69. The firm has a market capitalization of $185.88 million, a P/E ratio of -11.27 and a beta of 0.89. Zevia PBC has a 12 month low of $0.96 and a 12 month high of $4.99.

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

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.