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

Innovation Beverage Group Limited (NASDAQ:IBG) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 831,999 shares, a growth of 2,303.4% from the February 26th total of 34,617 shares. Based on an average trading volume of 2,408,484 shares, the days-to-cover ratio is currently 0.3 days. Currently, 83.3% of the shares of the stock are short sold. Currently, 83.3% of the shares of the stock are short sold. Based on an average trading volume of 2,408,484 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

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

Innovation Beverage Group Trading Down 2.4%

Shares of NASDAQ:IBG opened at $1.21 on Wednesday. Innovation Beverage Group has a 1 year low of $0.94 and a 1 year high of $49.25. The business has a fifty day simple moving average of $4.02 and a 200 day simple moving average of $9.68.

Innovation Beverage Group (NASDAQ:IBG) last announced its quarterly earnings results on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The company had revenue of $1.22 million during the quarter. Analysts expect that Innovation Beverage Group will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of 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 its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 as of its most recent SEC filing.

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.