Zevia PBC (NYSE:ZVIA – Get Rating) was the recipient of a large decline in short interest in December. As of December 30th, there was short interest totalling 695,700 shares, a decline of 22.1% from the December 15th total of 893,400 shares. Based on an average daily volume of 143,600 shares, the short-interest ratio is currently 4.8 days. Currently, 1.8% of the company's stock are sold short.
Zevia PBC Trading Down 2.9 %
Shares of NYSE ZVIA traded down $0.13 during midday trading on Thursday, hitting $4.30. 102,308 shares of the company's stock were exchanged, compared to its average volume of 94,934. Zevia PBC has a 12-month low of $1.86 and a 12-month high of $10.39. The company has a market cap of $296.17 million, a price-to-earnings ratio of -3.31 and a beta of 0.23. The business's fifty day moving average price is $4.05 and its two-hundred day moving average price is $4.12.
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Zevia PBC (NYSE:ZVIA – Get Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. Zevia PBC had a negative return on equity of 53.59% and a negative net margin of 30.64%. The company had revenue of $44.24 million during the quarter, compared to analyst estimates of $47.79 million. Equities analysts expect that Zevia PBC will post -0.85 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts recently commented on ZVIA shares. Telsey Advisory Group dropped their price objective on Zevia PBC from $6.00 to $5.50 and set an "outperform" rating on the stock in a research note on Friday, November 11th. Morgan Stanley dropped their price objective on Zevia PBC from $3.75 to $3.50 and set an "equal weight" rating on the stock in a research note on Friday, November 11th. Wells Fargo & Company dropped their price objective on Zevia PBC from $4.50 to $4.00 and set an "equal weight" rating on the stock in a research note on Friday, November 11th. Finally, Stephens dropped their price objective on Zevia PBC from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Friday, November 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Zevia PBC currently has an average rating of "Moderate Buy" and a consensus target price of $8.33.
Insiders Place Their Bets
In other Zevia PBC news, Director Padraic L. Spence sold 19,989 shares of the business's stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $3.74, for a total transaction of $74,758.86. Following the completion of the sale, the director now directly owns 2,277,460 shares of the company's stock, valued at approximately $8,517,700.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Padraic L. Spence sold 19,989 shares of the business's stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $3.74, for a total value of $74,758.86. Following the transaction, the director now owns 2,277,460 shares in the company, valued at approximately $8,517,700.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Padraic L. Spence sold 33,893 shares of the business's stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $3.53, for a total value of $119,642.29. Following the completion of the transaction, the director now owns 2,297,449 shares in the company, valued at approximately $8,109,994.97. The disclosure for this sale can be found here. Corporate insiders own 13.61% of the company's stock.
Institutional Trading of Zevia PBC
Hedge funds have recently bought and sold shares of the company. Wealth Alliance Advisory Group LLC bought a new stake in Zevia PBC in the 4th quarter worth approximately $50,000. Penserra Capital Management LLC lifted its position in Zevia PBC by 70.0% in the first quarter. Penserra Capital Management LLC now owns 13,296 shares of the company's stock valued at $60,000 after purchasing an additional 5,476 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Zevia PBC in the second quarter valued at approximately $42,000. Bank of New York Mellon Corp bought a new stake in Zevia PBC in the third quarter valued at approximately $68,000. Finally, Verus Capital Partners LLC bought a new stake in Zevia PBC in the third quarter valued at approximately $71,000. Institutional investors own 43.28% of the company's stock.
About Zevia PBC
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Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated and non-carbonated soft drinks in the United States and Canada. It offers soda, energy drinks, organic tea, mixers, kidz beverages, and sparkling water. The company offers its products through various retail channels, including grocery distributors, national retailers, warehouse club, and natural products retailers, as well as e-commerce channels.
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