Zevia PBC (NYSE:ZVIA) Sees Large Decline in Short Interest

Zevia PBC (NYSE:ZVIA) saw a large decline in short interest in 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 daily volume of 547,291 shares, the days-to-cover ratio is presently 4.8 days. Approximately 3.9% of the shares of the company are short sold.

Insider Transactions at Zevia PBC

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Zevia PBC during the second quarter valued at about $25,000. Quadrature Capital Ltd purchased a new position in shares of Zevia PBC in the 4th quarter worth about $26,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Zevia PBC during the 4th quarter valued at about $27,000. Engineers Gate Manager LP purchased a new position in shares of Zevia PBC during the 4th quarter valued at about $28,000. Finally, SG Americas Securities LLC purchased a new position in shares of Zevia PBC during the 4th quarter valued at about $31,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Zevia PBC Stock Down 2.1%

Shares of ZVIA stock traded down $0.03 during trading on Tuesday, hitting $1.18. The company had a trading volume of 72,313 shares, compared to its average volume of 843,377. The stock’s 50-day moving average is $1.54 and its two-hundred day moving average is $2.10. The stock has a market capitalization of $88.24 million, a price-to-earnings 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 announced its 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. Zevia PBC had a negative net margin of 6.15% and a negative return on equity of 22.49%. The business had revenue of $37.87 million during the quarter, compared to analyst estimates of $39.96 million. On average, research analysts predict 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.