Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 2,611,157 shares, a decline of 13.8% from the February 26th total of 3,030,263 shares. Based on an average trading volume of 547,291 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.9% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the sale, the insider directly owned 13,550,428 shares of the company’s stock, valued at $27,100,856. This represents a 20.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Girish Satya sold 41,662 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $1.18, for a total value of $49,161.16. Following the transaction, the chief financial officer owned 327,909 shares of the company’s stock, valued at $386,932.62. This represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 11.11% of the company’s stock.

Hedge Funds Weigh In On Zevia PBC

A number of hedge funds have recently added to or reduced their stakes in ZVIA. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Zevia PBC during the second quarter worth approximately $25,000. Quadrature Capital Ltd purchased a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $27,000. Engineers Gate Manager LP bought a new position in Zevia PBC in the fourth quarter worth approximately $28,000. Finally, SG Americas Securities LLC bought a new position in Zevia PBC in the fourth quarter worth approximately $31,000. 53.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Craig Hallum initiated coverage on shares of Zevia PBC in a research note on Thursday, January 15th. They issued a “buy” rating and a $4.00 price objective for the company. Telsey Advisory Group decreased 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 report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.43.

Zevia PBC Stock Up 1.3%

ZVIA traded up $0.02 during trading on Wednesday, reaching $1.19. The company had a trading volume of 31,213 shares, compared to its average volume of 838,214. The business has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $2.09. The stock has a market cap of $88.99 million, a P/E ratio of -7.83 and a beta of 0.90. Zevia PBC has a 52 week low of $1.11 and a 52 week high of $3.66.

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