Innovation Beverage Group (NASDAQ:IBG) Trading 2.1% Higher – Still a Buy?

Innovation Beverage Group Limited (NASDAQ:IBG) shares rose 2.1% during mid-day trading on Thursday . The stock traded as high as $4.60 and last traded at $4.30. Approximately 266,793 shares were traded during mid-day trading, an increase of 88% from the average daily volume of 141,881 shares. The stock had previously closed at $4.21.

Analyst Ratings Changes

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 Stock Up 2.1%

The firm has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $10.83.

Innovation Beverage Group (NASDAQ:IBG) last announced its quarterly earnings data on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The company had revenue of $1.22 million for the quarter. Sell-side analysts forecast that Innovation Beverage Group Limited will post -0.16 EPS for the current year.

Hedge Funds 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) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

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.