Zevia PBC (NYSE:ZVIA) Short Interest Up 21.6% in January

Zevia PBC (NYSE:ZVIA) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 1,707,217 shares, an increase of 21.6% from the December 31st total of 1,404,257 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 1,480,110 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 1,480,110 shares, the short-interest ratio is presently 1.2 days. Currently, 2.6% of the company’s stock are short sold.

Insider Buying and Selling

In other Zevia PBC news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $2.00, for a total value of $7,000,000.00. Following the sale, the insider directly owned 13,550,428 shares in the company, valued at $27,100,856. This trade represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zevia PBC

A number of institutional investors have recently made changes to their positions in ZVIA. Police & Firemen s Retirement System of New Jersey acquired a new stake in Zevia PBC during the second quarter worth about $25,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Zevia PBC during the 4th quarter worth approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Zevia PBC in the 4th quarter worth approximately $31,000. R Squared Ltd acquired a new position in Zevia PBC during the 3rd quarter valued at approximately $36,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Zevia PBC during the 3rd quarter valued at approximately $44,000. 53.21% of the stock is currently owned by institutional investors.

Zevia PBC Price Performance

NYSE ZVIA traded down $0.07 during trading hours on Wednesday, hitting $1.73. The company had a trading volume of 243,141 shares, compared to its average volume of 1,214,011. The firm’s 50 day moving average is $2.23 and its 200 day moving average is $2.52. Zevia PBC has a fifty-two week low of $1.66 and a fifty-two week high of $3.85. The company has a market capitalization of $129.38 million, a price-to-earnings ratio of -7.84 and a beta of 0.86.

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

Wall Street Analyst Weigh In

Several analysts recently commented on ZVIA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 price target on shares of Zevia PBC in a report on Wednesday, January 14th. Zacks Research downgraded Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Craig Hallum initiated 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 investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.68.

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.