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

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 42,817 shares, a growth of 32.1% from the December 31st total of 32,401 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 59,676 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 59,676 shares, the short-interest ratio is presently 0.7 days. Approximately 2.6% of the company’s shares are sold short.

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 acquired a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Innovation Beverage Group from a “sell” rating to a “hold” rating in a report on Saturday.

Innovation Beverage Group Stock Up 17.2%

NASDAQ:IBG traded up $0.64 on Monday, reaching $4.37. 448,681 shares of the stock traded hands, compared to its average volume of 130,135. Innovation Beverage Group has a 12 month low of $3.26 and a 12 month high of $49.25. The company’s fifty day simple moving average is $9.78 and its 200 day simple moving average is $12.98.

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

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.