Wall Street Zen Upgrades Innovation Beverage Group (NASDAQ:IBG) to “Hold”

Innovation Beverage Group (NASDAQ:IBG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Innovation Beverage Group Stock Performance

Shares of IBG opened at $3.73 on Friday. Innovation Beverage Group has a 1 year low of $3.27 and a 1 year high of $49.25. The stock’s fifty day moving average price is $9.78 and its two-hundred day moving average price is $13.23.

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

Institutional Inflows and Outflows

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) during the third quarter, according to the company in its most recent Form 13F 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 0.52% of Innovation Beverage Group at the end of the most recent reporting period.

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.