Ghisallo Capital Management LLC Has $2.99 Million Stock Position in Zevia PBC $ZVIA

Ghisallo Capital Management LLC boosted its holdings in shares of Zevia PBC (NYSE:ZVIA) by 265.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,100,000 shares of the company’s stock after purchasing an additional 798,700 shares during the period. Ghisallo Capital Management LLC owned about 1.47% of Zevia PBC worth $2,992,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ZVIA. Divisadero Street Capital Management LP bought a new stake in shares of Zevia PBC during the 2nd quarter worth $10,404,000. Bank of Montreal Can bought a new position in shares of Zevia PBC in the second quarter worth about $943,000. Acadian Asset Management LLC lifted its holdings in shares of Zevia PBC by 7.1% in the second quarter. Acadian Asset Management LLC now owns 650,621 shares of the company’s stock worth $2,093,000 after acquiring an additional 43,318 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Zevia PBC in the 2nd quarter valued at approximately $62,000. Finally, Calamos Advisors LLC boosted its stake in shares of Zevia PBC by 188.9% in the 2nd quarter. Calamos Advisors LLC now owns 125,574 shares of the company’s stock valued at $404,000 after purchasing an additional 82,113 shares in the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

Insider Buying and Selling at Zevia PBC

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the stock in a transaction 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 directly owned 13,550,428 shares in the company, valued at $27,100,856. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Craig Hallum assumed coverage on shares of Zevia PBC in a research report on Thursday, January 15th. They set a “buy” rating and a $4.00 price objective for the company. Telsey Advisory Group cut their target price on shares of Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zevia PBC has an average rating of “Hold” and a consensus target price of $4.43.

Zevia PBC Price Performance

NYSE:ZVIA opened at $1.29 on Friday. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The company has a market cap of $96.50 million, a PE ratio of -8.57 and a beta of 0.90. The firm’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $2.22.

Zevia PBC (NYSE:ZVIA) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $37.87 million during the quarter, compared to analysts’ expectations of $39.96 million. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.49%. Equities research analysts expect that Zevia PBC will post -0.32 EPS for the current year.

About Zevia PBC

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.