Short Interest in Zevia PBC (NYSE:ZVIA) Expands By 29.8%

Zevia PBC (NYSE:ZVIA) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 1,404,257 shares, a growth of 29.8% from the December 15th total of 1,082,026 shares. Based on an average trading volume of 1,330,140 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.1% of the company’s stock are sold short. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 1,330,140 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ZVIA shares. Telsey Advisory Group restated an “outperform” rating and issued a $6.00 target price on shares of Zevia PBC in a research note on Wednesday. Craig Hallum initiated coverage on shares of Zevia PBC in a research note on Thursday. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded Zevia PBC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.68.

Institutional Trading of Zevia PBC

Several institutional investors have recently added to or reduced their stakes in ZVIA. Kapitalo Investimentos Ltda bought a new position in shares of Zevia PBC during the second quarter valued at approximately $467,000. Emerald Mutual Fund Advisers Trust boosted its position in Zevia PBC by 99.9% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 761,700 shares of the company’s stock valued at $2,453,000 after purchasing an additional 380,693 shares during the period. Divisadero Street Capital Management LP bought a new position in Zevia PBC during the 2nd quarter worth $10,404,000. Hodges Capital Management Inc. acquired a new stake in Zevia PBC in the second quarter worth $734,000. Finally, Bank of Montreal Can bought a new stake in Zevia PBC in the second quarter valued at $943,000. Institutional investors own 53.21% of the company’s stock.

Zevia PBC Stock Up 1.1%

Shares of ZVIA traded up $0.02 during midday trading on Friday, hitting $1.92. The company had a trading volume of 2,444,323 shares, compared to its average volume of 1,239,525. The stock has a market cap of $144.01 million, a price-to-earnings ratio of -8.73 and a beta of 0.87. The company’s 50 day moving average price is $2.40 and its 200 day moving average price is $2.62. Zevia PBC has a 52 week low of $1.66 and a 52 week high of $4.99.

Zevia PBC (NYSE:ZVIA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Zevia PBC had a negative return on equity of 30.61% and a negative net margin of 8.83%.The business had revenue of $40.84 million during the quarter, compared to the consensus estimate of $39.33 million. Equities analysts anticipate that Zevia PBC will post -0.32 EPS for the current fiscal year.

Zevia PBC Company Profile

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.