Short Interest in Zevia PBC (NYSE:ZVIA) Decreases By 13.2%

Zevia PBC (NYSE:ZVIA - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 711,300 shares, a decrease of 13.2% from the April 30th total of 819,300 shares. Based on an average daily volume of 572,800 shares, the short-interest ratio is presently 1.2 days. Currently, 1.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Zevia PBC

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Zevia PBC by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 539,652 shares of the company's stock worth $2,262,000 after buying an additional 3,177 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Zevia PBC by 44.4% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 21,490 shares of the company's stock worth $90,000 after acquiring an additional 6,610 shares in the last quarter. Wolverine Trading LLC bought a new position in shares of Zevia PBC in the fourth quarter worth about $39,000. Stifel Financial Corp acquired a new stake in shares of Zevia PBC in the 4th quarter valued at approximately $42,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Zevia PBC in the 4th quarter valued at approximately $45,000. Institutional investors own 53.21% of the company's stock.

Zevia PBC Stock Down 3.4%

Shares of ZVIA traded down $0.09 during trading hours on Wednesday, hitting $2.57. 267,976 shares of the company were exchanged, compared to its average volume of 493,689. Zevia PBC has a fifty-two week low of $0.62 and a fifty-two week high of $4.99. The company has a market cap of $190.75 million, a price-to-earnings ratio of -6.76 and a beta of 0.85. The firm's fifty day moving average is $2.47 and its 200 day moving average is $2.95.

Zevia PBC (NYSE:ZVIA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $38.02 million for the quarter, compared to the consensus estimate of $37.15 million. Zevia PBC had a negative net margin of 14.02% and a negative return on equity of 38.02%. Analysts anticipate that Zevia PBC will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $3.00 price target on shares of Zevia PBC in a research report on Monday, May 5th.

About Zevia PBC

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.