Short Interest in Zevia PBC (NYSE:ZVIA) Expands By 14.8%

Zevia PBC (NYSE:ZVIA) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 3,030,263 shares, an increase of 14.8% from the February 12th total of 2,640,477 shares. Based on an average trading volume of 732,657 shares, the short-interest ratio is presently 4.1 days. Approximately 4.5% of the company’s shares are short sold. Approximately 4.5% of the company’s shares are short sold. Based on an average trading volume of 732,657 shares, the short-interest ratio is presently 4.1 days.

Zevia PBC Stock Performance

Shares of ZVIA opened at $1.19 on Thursday. The company has a market capitalization of $88.99 million, a P/E ratio of -7.90 and a beta of 0.90. Zevia PBC has a one year low of $1.11 and a one year high of $3.66. The stock has a 50-day moving average price of $1.64 and a 200 day moving average price of $2.18.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%.The company had revenue of $37.87 million for the quarter, compared to the consensus estimate of $39.96 million. As a group, equities research analysts forecast that Zevia PBC will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on ZVIA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Telsey Advisory Group lowered their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Finally, Craig Hallum started coverage on Zevia PBC in a report on Thursday, January 15th. They set a “buy” rating and a $4.00 target price on the stock. Three equities 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 stock. Based on data from MarketBeat, Zevia PBC has a consensus rating of “Hold” and an average target price of $4.43.

Insider Buying and Selling at Zevia PBC

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of Zevia PBC stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $2.00, for a total transaction of $7,000,000.00. Following the transaction, the insider owned 13,550,428 shares in the company, valued at approximately $27,100,856. The trade was a 20.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.11% of the company’s stock.

Institutional Trading of Zevia PBC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in Zevia PBC in the second quarter valued at $25,000. TD Waterhouse Canada Inc. grew its holdings in Zevia PBC by 6.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 131,042 shares of the company’s stock worth $303,000 after acquiring an additional 8,237 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Zevia PBC by 45.4% in the 3rd quarter. CreativeOne Wealth LLC now owns 28,162 shares of the company’s stock worth $77,000 after purchasing an additional 8,787 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Zevia PBC in the 4th quarter worth about $26,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Zevia PBC in the 4th quarter valued at about $27,000. Institutional investors 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.