Zevia PBC (NYSE:ZVIA) Short Interest Up 73.3% in July

Key Points

• Zevia PBC experienced a significant increase in short interest, rising by 73.3% in July, with 2,010,000 shares short sold, representing 4.0% of its stock.
• Hedge funds and institutional investors now own 53.21% of Zevia PBC, with notable transactions in the second quarter, including $943,000 invested by the Bank of Montreal.
• Analysts upgraded Zevia PBC's stock rating from "market perform" to "outperform", raising the price target from $3.00 to $5.00.

Zevia PBC (NYSE:ZVIA - Get Free Report) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 2,010,000 shares, agrowthof73.3% from the June 30th total of 1,160,000 shares. Based on an average daily trading volume, of 792,800 shares, the days-to-cover ratio is presently 2.5 days. Currently,4.0% of the company's stock are sold short. Currently,4.0% of the company's stock are sold short. Based on an average daily trading volume, of 792,800 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Zevia PBC from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Thursday. Telsey Advisory Group raised Zevia PBC from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $3.00 to $5.00 in a report on Monday, August 4th.

Zevia PBC Stock Performance

Zevia PBC stock remained flat at $3.31 during trading hours on Friday. 876,291 shares of the company's stock traded hands, compared to its average volume of 742,913. Zevia PBC has a 52-week low of $0.81 and a 52-week high of $4.99. The company has a market cap of $245.67 million, a price-to-earnings ratio of -15.05 and a beta of 0.90. The firm's fifty day moving average price is $3.07 and its 200-day moving average price is $2.83.

Zevia PBC (NYSE:ZVIA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $44.52 million during the quarter, compared to analysts' expectations of $41.63 million. Zevia PBC had a negative return on equity of 27.86% and a negative net margin of 8.97%. Analysts anticipate that Zevia PBC will post -0.32 EPS for the current year.

Institutional Trading of Zevia PBC

Several hedge funds and other institutional investors have recently modified their holdings of ZVIA. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Zevia PBC in the 2nd quarter valued at approximately $25,000. Outlook Wealth Advisors LLC bought a new position in shares of Zevia PBC in the first quarter valued at approximately $29,000. Wolverine Trading LLC bought a new position in shares of Zevia PBC in the fourth quarter valued at approximately $39,000. Stifel Financial Corp acquired a new stake in shares of Zevia PBC in the fourth quarter worth $42,000. Finally, DKM Wealth Management Inc. bought a new stake in shares of Zevia PBC during the 2nd quarter worth $42,000. Institutional investors and hedge funds own 53.21% of the company's stock.

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.