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

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 115,135 shares, a growth of 283.9% from the May 31st total of 29,990 shares. Based on an average trading volume of 291,589 shares, the days-to-cover ratio is presently 0.4 days. Currently, 10.8% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Wall Street Zen cut Innovation Beverage Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th.

Institutional Investors Weigh In On Innovation Beverage Group

A hedge fund recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE bought a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,630 shares of the company’s stock, valued at approximately $38,000. Bank of America Corp DE owned approximately 0.52% of Innovation Beverage Group at the end of the most recent reporting period.

Innovation Beverage Group Price Performance

NASDAQ IBG traded up $0.04 during trading on Friday, reaching $1.09. The company’s stock had a trading volume of 41,453 shares, compared to its average volume of 247,446. Innovation Beverage Group has a 1-year low of $0.72 and a 1-year high of $36.50. The business has a 50-day moving average price of $1.04 and a 200-day moving average price of $3.91.

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.