Zevia PBC (NYSE:ZVIA) Short Interest Update
by Doug Wharley · The Cerbat GemZevia PBC (NYSE:ZVIA – Get Free Report) 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 daily 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 daily volume of 1,330,140 shares, the days-to-cover ratio is currently 1.1 days.
Institutional Investors Weigh In On Zevia PBC
A number of institutional investors have recently modified their holdings of the business. Divisadero Street Capital Management LP increased its stake in shares of Zevia PBC by 90.6% in the 3rd quarter. Divisadero Street Capital Management LP now owns 6,159,362 shares of the company’s stock worth $16,753,000 after acquiring an additional 2,928,382 shares during the last quarter. Vanguard Group Inc. boosted 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 valued at $5,348,000 after purchasing an additional 89,810 shares during the period. Ghisallo Capital Management LLC grew its stake in shares of Zevia PBC by 265.1% in the third quarter. Ghisallo Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $2,992,000 after acquiring an additional 798,700 shares in the last quarter. Geode Capital Management LLC increased its holdings in Zevia PBC by 66.5% during the 2nd quarter. Geode Capital Management LLC now owns 933,407 shares of the company’s stock worth $3,006,000 after purchasing an additional 372,665 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in Zevia PBC by 21.3% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 924,124 shares of the company’s stock valued at $2,514,000 after acquiring an additional 162,424 shares in the last quarter. 53.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on ZVIA shares. Craig Hallum began coverage on Zevia PBC in a research note on Thursday. They set a “buy” rating and a $4.00 price objective for the company. Zacks Research lowered shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $6.00 price objective on shares of Zevia PBC in a research report on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.68.
Check Out Our Latest Stock Analysis on Zevia PBC
Zevia PBC Stock Performance
Zevia PBC stock traded up $0.02 during mid-day trading on Monday, hitting $1.92. The company’s stock had a trading volume of 2,444,323 shares, compared to its average volume of 1,209,043. The stock has a market cap of $144 million, a PE ratio of -8.73 and a beta of 0.87. Zevia PBC has a one year low of $1.66 and a one year high of $4.99. The company has a 50 day moving average of $2.38 and a 200-day moving average of $2.60.
Zevia PBC (NYSE:ZVIA – Get Free Report) last issued its 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 company had revenue of $40.84 million for the quarter, compared to analysts’ expectations 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 research analysts forecast that Zevia PBC will post -0.32 EPS 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.