Innovation Beverage Group Limited (NASDAQ:IBG) Sees Significant Drop in Short Interest

Innovation Beverage Group Limited (NASDAQ:IBG) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 18,319 shares, a drop of 57.2% from the January 15th total of 42,817 shares. Currently, 5.6% of the company’s stock are sold short. Based on an average trading volume of 215,398 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 215,398 shares, the short-interest ratio is presently 0.1 days. Currently, 5.6% of the company’s stock are sold short.

Institutional Trading of Innovation Beverage Group

A hedge fund recently bought a new stake in Innovation Beverage Group stock. Bank of America Corp DE bought a new position in Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,630 shares of the company’s stock, valued at approximately $38,000. Bank of America Corp DE owned about 0.52% of Innovation Beverage Group as of its most recent SEC filing.

Innovation Beverage Group Stock Performance

NASDAQ:IBG traded up $0.24 on Friday, hitting $4.02. 142,590 shares of the stock were exchanged, compared to its average volume of 117,079. The stock has a fifty day moving average of $8.30 and a 200-day moving average of $12.15. Innovation Beverage Group has a fifty-two week low of $3.26 and a fifty-two week high of $49.25.

Innovation Beverage Group (NASDAQ:IBG) last announced its quarterly earnings results on Monday, December 29th. The company reported ($2.86) earnings per share for the quarter. The company had revenue of $1.22 million for the quarter. As a group, research analysts forecast that Innovation Beverage Group will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Innovation Beverage Group from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th.

Innovation Beverage Group Company Profile

Innovation Beverage Group is a publicly traded beverage holding company that acquires, revitalizes and grows non-alcoholic drink brands. Through its wholly owned subsidiaries, the company focuses on sourcing high-quality ingredients, contract manufacturing, packaging and distribution for a diversified portfolio of products that span fruit juices, flavored waters, functional and nutritional beverages.

The company’s operations encompass product development, supply chain management and go-to-market support.