Zevia PBC (NYSE:ZVIA) Short Interest Update

Zevia PBC (NYSE:ZVIA) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 777,960 shares, a drop of 63.0% from the June 15th total of 2,101,656 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 2,140,312 shares, the short-interest ratio is presently 0.4 days.

Insider Activity at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 2,150,000 shares of Zevia PBC stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $1.90, for a total transaction of $4,085,000.00. Following the transaction, the insider owned 11,400,428 shares in the company, valued at approximately $21,660,813.20. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Zevia PBC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Zevia PBC by 2,845.4% during the fourth quarter. Bank of America Corp DE now owns 15,817 shares of the company’s stock valued at $66,000 after purchasing an additional 15,280 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Zevia PBC by 52.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 79,275 shares of the company’s stock worth $171,000 after purchasing an additional 27,343 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Zevia PBC during the 1st quarter worth about $187,000. Geode Capital Management LLC lifted its holdings in shares of Zevia PBC by 66.5% during the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock valued at $3,006,000 after buying an additional 372,665 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Zevia PBC by 2,460.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,518 shares of the company’s stock valued at $50,000 after buying an additional 14,912 shares during the last quarter. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Zevia PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.42.

Zevia PBC Stock Performance

Shares of ZVIA opened at $1.73 on Monday. The company’s 50 day moving average price is $1.49 and its 200 day moving average price is $1.54. Zevia PBC has a 52 week low of $1.11 and a 52 week high of $3.63. The company has a market capitalization of $133.11 million, a PE ratio of -17.29 and a beta of 1.00.

Zevia PBC (NYSE:ZVIA) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Zevia PBC had a negative net margin of 4.11% and a negative return on equity of 13.43%. The firm had revenue of $46.09 million for the quarter, compared to analyst estimates of $40.97 million. On average, equities analysts forecast that Zevia PBC will post -0.1 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.