Zevia PBC (NYSE:ZVIA) Short Interest Up 44.2% in January

Zevia PBC (NYSE:ZVIA) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,462,033 shares, an increase of 44.2% from the January 15th total of 1,707,217 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily volume of 1,147,967 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily volume of 1,147,967 shares, the days-to-cover ratio is presently 2.1 days. Currently, 3.7% of the company’s shares are sold short.

Zevia PBC Trading Up 3.5%

Zevia PBC stock traded up $0.06 during midday trading on Monday, hitting $1.63. 550,675 shares of the stock were exchanged, compared to its average volume of 773,563. Zevia PBC has a fifty-two week low of $1.55 and a fifty-two week high of $3.70. The stock has a market capitalization of $121.88 million, a price-to-earnings ratio of -7.39 and a beta of 0.86. The stock’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.43.

Analyst Upgrades and Downgrades

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

Insider Activity

In related 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 completion of the transaction, the insider 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.11% of the company’s stock.

Institutional Trading of Zevia PBC

A number of large investors have recently bought and sold shares of the business. Divisadero Street Capital Management LP acquired a new position in shares of Zevia PBC during the second quarter worth about $10,404,000. Jefferies Financial Group Inc. purchased a new stake in shares of Zevia PBC in the fourth quarter valued at $4,864,000. Ghisallo Capital Management LLC grew its holdings in shares of Zevia PBC by 265.1% during the third quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $2,992,000 after buying an additional 798,700 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Zevia PBC by 382.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 527,498 shares of the company’s stock valued at $1,224,000 after acquiring an additional 418,077 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in Zevia PBC by 99.9% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 761,700 shares of the company’s stock worth $2,453,000 after buying an additional 380,693 shares during the last quarter. Institutional investors and hedge funds own 53.21% of the company’s stock.

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.