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

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZVIA. ArrowMark Colorado Holdings LLC acquired a new position in Zevia PBC in the 4th quarter valued at about $4,190,000. Silvercrest Asset Management Group LLC raised its stake in Zevia PBC by 87.1% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,323,885 shares of the company's stock valued at $5,547,000 after purchasing an additional 616,244 shares during the last quarter. Acadian Asset Management LLC raised its stake in Zevia PBC by 950.8% in the 1st quarter. Acadian Asset Management LLC now owns 607,303 shares of the company's stock valued at $1,309,000 after purchasing an additional 549,508 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Zevia PBC by 2,701.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 544,099 shares of the company's stock valued at $1,175,000 after purchasing an additional 524,675 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Zevia PBC in the 4th quarter valued at about $1,245,000. Institutional investors and hedge funds own 53.21% of the company's stock.

Zevia PBC Trading Up 3.8%

Shares of NYSE:ZVIA traded up $0.10 during midday trading on Friday, hitting $2.61. 217,080 shares of the stock were exchanged, compared to its average volume of 491,606. The stock has a market cap of $193.35 million, a P/E ratio of -6.86 and a beta of 0.85. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $4.99. The company has a 50 day moving average price of $2.49 and a 200-day moving average price of $2.97.

Zevia PBC (NYSE:ZVIA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $38.02 million during the quarter, compared to the consensus estimate of $37.15 million. Zevia PBC had a negative return on equity of 38.02% and a negative net margin of 14.02%. On average, equities research analysts expect that Zevia PBC will post -0.32 earnings per share for the current year.

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.