Short Interest in Zevia PBC (NYSE:ZVIA) Decreases By 42.8%

Zevia PBC (NYSE:ZVIA) was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 697,500 shares, a decline of 42.8% from the June 30th total of 1,220,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 320,800 shares, the days-to-cover ratio is currently 2.2 days.

Zevia PBC Trading Up 4.3 %

ZVIA traded up $0.04 during trading on Friday, reaching $0.86. 112,526 shares of the company’s stock were exchanged, compared to its average volume of 225,727. Zevia PBC has a one year low of $0.62 and a one year high of $3.13. The stock has a market capitalization of $62.28 million, a PE ratio of -1.79 and a beta of 0.62. The firm has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $1.14.

Zevia PBC (NYSE:ZVIA) last posted its earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). Zevia PBC had a negative net margin of 15.58% and a negative return on equity of 37.98%. The firm had revenue of $38.80 million for the quarter, compared to analyst estimates of $39.82 million. During the same period in the previous year, the firm posted ($0.04) EPS. Sell-side analysts expect that Zevia PBC will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

ZVIA has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Zevia PBC from $3.00 to $1.25 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Telsey Advisory Group decreased their price target on shares of Zevia PBC from $3.00 to $2.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Finally, Wells Fargo & Company decreased their price target on shares of Zevia PBC from $1.25 to $1.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Zevia PBC currently has a consensus rating of “Hold” and an average target price of $2.25.

Insiders Place Their Bets

In other Zevia PBC news, CEO Amy Taylor acquired 55,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was acquired at an average price of $0.89 per share, for a total transaction of $48,950.00. Following the purchase, the chief executive officer now directly owns 1,014,252 shares of the company’s stock, valued at $902,684.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.55% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zevia PBC stock. Sapient Capital LLC bought a new stake in shares of Zevia PBC (NYSE:ZVIA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 20,300 shares of the company’s stock, valued at approximately $41,000. 53.21% of the stock is currently owned by hedge funds and other institutional investors.

Zevia PBC Company Profile

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.