Innovation Beverage Group Limited (NASDAQ:IBG) Sees Large Growth in Short Interest

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 42,817 shares, an increase of 32.1% from the December 31st total of 32,401 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average trading volume of 59,676 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 59,676 shares, the short-interest ratio is presently 0.7 days. Currently, 2.6% of the shares of the company are sold short.

Innovation Beverage Group Stock Performance

Shares of Innovation Beverage Group stock opened at $4.05 on Wednesday. Innovation Beverage Group has a twelve month low of $3.26 and a twelve month high of $49.25. The business has a 50-day moving average price of $9.52 and a 200 day moving average price of $12.70.

Innovation Beverage Group (NASDAQ:IBG) last issued its quarterly earnings data on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The business had revenue of $1.22 million during the quarter. As a group, equities analysts expect that Innovation Beverage Group will post -0.16 EPS for the current fiscal year.

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 acquired a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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 as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Innovation Beverage Group from a “sell” rating to a “hold” rating in a report on Saturday.

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.