Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 2,462,033 shares, an increase of 44.2% from the January 15th total of 1,707,217 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily volume of 1,147,967 shares, the days-to-cover ratio is presently 2.1 days. Based on an average daily volume of 1,147,967 shares, the days-to-cover ratio is presently 2.1 days. Approximately 3.7% of the shares of the stock are sold short.

Zevia PBC Price Performance

Zevia PBC stock opened at $1.63 on Friday. The business has a 50 day moving average of $2.07 and a 200-day moving average of $2.44. The company has a market capitalization of $121.88 million, a P/E ratio of -7.39 and a beta of 0.86. Zevia PBC has a 1 year low of $1.55 and a 1 year high of $3.70.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Zacks Research cut Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $6.00 price target on shares of Zevia PBC in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research report on Wednesday, January 21st. Finally, Craig Hallum began coverage on shares of Zevia PBC in a research report on Thursday, January 15th. They issued a “buy” rating and a $4.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.68.

Insider Activity

In other 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 stock was sold at an average price of $2.00, for a total value of $7,000,000.00. Following the transaction, the insider owned 13,550,428 shares in the company, valued at approximately $27,100,856. This trade represents a 20.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.11% of the company’s stock.

Institutional Trading of Zevia PBC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Divisadero Street Capital Management LP lifted its holdings in Zevia PBC by 90.6% during the 3rd quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock worth $16,753,000 after buying an additional 2,928,382 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Zevia PBC in the fourth quarter worth approximately $4,864,000. Vanguard Group Inc. lifted its stake in shares of Zevia PBC by 4.8% in the third quarter. Vanguard Group Inc. now owns 1,966,289 shares of the company’s stock worth $5,348,000 after acquiring an additional 89,810 shares during the period. Ghisallo Capital Management LLC boosted its holdings in Zevia PBC by 265.1% in the third quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $2,992,000 after acquiring an additional 798,700 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Zevia PBC by 29.3% during the 4th quarter. Geode Capital Management LLC now owns 1,023,391 shares of the company’s stock valued at $2,375,000 after purchasing an additional 231,965 shares during the period. 53.21% of the stock is currently owned by institutional investors and hedge funds.

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.