Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Up 93.7% in May

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 29,990 shares, a growth of 93.7% from the May 14th total of 15,479 shares. Based on an average daily volume of 83,316 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.8% of the company’s shares are sold short.

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) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,630 shares of the company’s stock, valued at approximately $38,000. Bank of America Corp DE owned approximately 0.52% of Innovation Beverage Group as of its most recent filing with the Securities & Exchange Commission.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Innovation Beverage Group from a “hold” rating to a “sell” rating in a report on Sunday, May 24th.

Innovation Beverage Group Trading Down 10.3%

IBG stock traded down $0.14 during mid-day trading on Friday, hitting $1.22. 329,837 shares of the company were exchanged, compared to its average volume of 190,063. The business has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $4.66. Innovation Beverage Group has a 12-month low of $0.72 and a 12-month high of $36.50.

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.