Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,707,217 shares, a growth of 21.6% from the December 31st total of 1,404,257 shares. Currently, 2.6% of the company’s shares are short sold. Based on an average daily volume of 1,480,110 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily volume of 1,480,110 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.6% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a report on Wednesday, January 21st. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price objective on shares of Zevia PBC in a report on Wednesday, January 14th. Zacks Research downgraded shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Craig Hallum initiated coverage on Zevia PBC in a research report on Thursday, January 15th. They issued a “buy” rating and a $4.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.68.

Insider Activity

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total value of $7,000,000.00. Following the completion of the sale, the insider owned 13,550,428 shares in the company, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Zevia PBC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Divisadero Street Capital Management LP increased its position in Zevia PBC by 90.6% during the third quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock valued at $16,753,000 after acquiring an additional 2,928,382 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Zevia PBC by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company’s stock valued at $5,348,000 after purchasing an additional 89,810 shares during the period. Ghisallo Capital Management LLC increased its position in shares of Zevia PBC by 265.1% during the 3rd quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $2,992,000 after purchasing an additional 798,700 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Zevia PBC by 66.5% in the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after purchasing an additional 372,665 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Zevia PBC by 21.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 924,124 shares of the company’s stock worth $2,514,000 after buying an additional 162,424 shares during the last quarter. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Zevia PBC Stock Performance

Shares of NYSE ZVIA opened at $1.74 on Thursday. The firm’s 50 day moving average price is $2.21 and its 200-day moving average price is $2.52. Zevia PBC has a 52-week low of $1.66 and a 52-week high of $3.85. The company has a market cap of $130.13 million, a PE ratio of -7.89 and a beta of 0.86.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Zevia PBC had a negative net margin of 8.83% and a negative return on equity of 30.61%. The company had revenue of $40.84 million during the quarter, compared to analyst estimates of $39.33 million. On average, analysts forecast that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Zevia PBC Company Profile

Zevia PBC, headquartered in Los Angeles, is a Public Benefit Corporation that produces zero-calorie, naturally sweetened beverages. Founded in 2007, the company went public through a merger with a special purpose acquisition company in March 2021. Zevia’s mission centers on offering healthier drink alternatives by using stevia leaf extract and other plant-based ingredients rather than sugar or artificial sweeteners.

The company’s product portfolio spans multiple categories, including carbonated sodas, sparkling water, energy drinks, mixers and flavored teas.