Zevia PBC (NYSE:ZVIA) Sees Large Growth in Short Interest

Zevia PBC (NYSE:ZVIA) was the recipient of a large increase in short interest in the month of 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. Based on an average daily trading volume, of 1,147,967 shares, the short-interest ratio is currently 2.1 days. Currently, 3.7% of the company’s stock are short sold. Currently, 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,147,967 shares, the short-interest ratio is currently 2.1 days.

Insider Transactions at Zevia PBC

In other news, major shareholder De Depot Et Placement D. Caisse sold 3,500,000 shares of the 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 approximately $27,100,856. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.11% of the stock is currently owned by company insiders.

Institutional Trading of Zevia PBC

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC boosted its position in shares of Zevia PBC by 115.8% in the 4th quarter. Verition Fund Management LLC now owns 27,995 shares of the company’s stock valued at $65,000 after purchasing an additional 15,024 shares during the period. Barclays PLC boosted its holdings in shares of Zevia PBC by 62.8% in the fourth quarter. Barclays PLC now owns 86,775 shares of the company’s stock valued at $201,000 after acquiring an additional 33,473 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Zevia PBC in the fourth quarter valued at approximately $38,000. Jacobs Levy Equity Management Inc. grew its position in shares of Zevia PBC by 382.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 527,498 shares of the company’s stock worth $1,224,000 after acquiring an additional 418,077 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Zevia PBC by 58.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 157,587 shares of the company’s stock valued at $366,000 after acquiring an additional 58,207 shares during the period. Institutional investors and hedge funds own 53.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ZVIA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zevia PBC in a research note on Wednesday, January 21st. Craig Hallum assumed coverage on shares of Zevia PBC in a report on Thursday, January 15th. They issued a “buy” rating and a $4.00 target price on the stock. Zacks Research cut shares of Zevia PBC from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $6.00 price objective on shares of Zevia PBC in a report on Wednesday, January 14th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Zevia PBC currently has an average rating of “Hold” and an average price target of $4.68.

Zevia PBC Trading Up 3.5%

ZVIA stock opened at $1.63 on Tuesday. The stock has a market cap of $121.88 million, a P/E ratio of -7.39 and a beta of 0.86. Zevia PBC has a twelve month low of $1.55 and a twelve month high of $3.70. The company’s 50 day moving average is $2.05 and its two-hundred day moving average is $2.42.

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.