ZrO2 is a semiconductor compound widely used in several areas such as part of electronic devices, energy related materials, and catalysis due to its attractive electronic characteristics. In this work we explore its electronic properties in the surroundings of the energy gap. In particular, we show that the valence band maximum (VBM) could be strongly modulated with pressure. In fact, using the Generalized Gradient Approximation within the Density Functional Theory we find that under compression the VBM moves, in reciprocal space, from a non-special point T = (τ, τ, 0), with τ 0.23 in equilibrium, to A = (1/2, 1/2, 1/2) then to NV = (1/2, 1/2, ν) and to M = (1/2, 1/2, 0). The first transition occurs at a fairly moderate value of pressures, of only around 10 GPa. Since ZrO2 is very often used in situations under stress, this effect could strongly influence the evolution of the bandgap, the electronic conductivity, and therefore could also be important for certain applications in electronics and catalysis. Furthermore, we obtained that it has very anisotropic hole effective masses, which results in preferential electron conduction directions when doped.