Innovation Beverage Group (NASDAQ:IBG) Lowered to “Sell” Rating by Wall Street Zen

Innovation Beverage Group (NASDAQ:IBG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Innovation Beverage Group Trading Up 16.0%

Shares of Innovation Beverage Group stock opened at $4.78 on Friday. Innovation Beverage Group has a 12 month low of $3.26 and a 12 month high of $49.25. The business’s fifty day simple moving average is $8.96 and its 200 day simple moving average is $12.44.

Innovation Beverage Group (NASDAQ:IBG) last issued its quarterly earnings results on Monday, December 29th. The company reported ($2.86) earnings per share (EPS) for the quarter. The company had revenue of $1.22 million for the quarter. On average, sell-side analysts predict that Innovation Beverage Group will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Innovation Beverage Group

An institutional investor 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) in the third quarter, according to its most recent 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 at the end of the most recent quarter.

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.