Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Update

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 14,719 shares, a decrease of 60.6% from the April 15th total of 37,382 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 359,352 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On Innovation Beverage Group

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

Innovation Beverage Group Trading Down 3.7%

Shares of NASDAQ IBG traded down $0.03 during mid-day trading on Friday, reaching $0.83. 80,873 shares of the company’s stock were exchanged, compared to its average volume of 504,670. The business has a fifty day simple moving average of $1.45 and a 200 day simple moving average of $6.30. Innovation Beverage Group has a twelve month low of $0.72 and a twelve month high of $36.50.

Wall Street Analyst Weigh In

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

About Innovation Beverage Group

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.