Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) was the target of a significant increase in short interest during 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. Approximately 4.5% of the shares of the company are short sold. Based on an average trading volume of 732,657 shares, the short-interest ratio is currently 4.1 days. Based on an average trading volume of 732,657 shares, the short-interest ratio is currently 4.1 days. Approximately 4.5% of the shares of the company are short sold.

Insider Activity

In related news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the business’s 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 of the company’s stock, valued at approximately $27,100,856. The trade was a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.11% of the company’s stock.

Institutional Investors Weigh In On Zevia PBC

Several institutional investors have recently bought and sold shares of ZVIA. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Zevia PBC during the 2nd quarter worth approximately $25,000. Quadrature Capital Ltd acquired 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 bought a new stake in shares of Zevia PBC in the fourth quarter worth $27,000. Engineers Gate Manager LP acquired a new position in Zevia PBC during the fourth quarter worth $28,000. Finally, SG Americas Securities LLC acquired a new position in Zevia PBC during the fourth quarter worth $31,000. Institutional investors own 53.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ZVIA. Craig Hallum began coverage on Zevia PBC in a report on Thursday, January 15th. They issued a “buy” rating and a $4.00 price objective for the company. Telsey Advisory Group reduced their target price on Zevia PBC from $6.00 to $5.00 and set an “outperform” rating on the stock 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.43.

Zevia PBC Trading Down 2.8%

Shares of NYSE:ZVIA traded down $0.04 during trading on Wednesday, hitting $1.24. 189,109 shares of the company’s stock traded hands, compared to its average volume of 881,933. The company has a market cap of $92.75 million, a price-to-earnings ratio of -8.23 and a beta of 0.90. Zevia PBC has a 52 week low of $1.11 and a 52 week high of $3.66. The company has a 50-day moving average price of $1.66 and a 200-day moving average price of $2.19.

Zevia PBC (NYSE:ZVIA) last released its quarterly 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. The firm had revenue of $37.87 million for the quarter, compared to the consensus estimate of $39.96 million. Zevia PBC had a negative return on equity of 22.49% and a negative net margin of 6.15%. On average, analysts predict that Zevia PBC will post -0.32 earnings per share 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.