Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Down 60.6% in April

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 14,719 shares, a drop of 60.6% from the April 15th total of 37,382 shares. Based on an average trading volume of 359,352 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.5% of the company’s stock are sold short.

Institutional Investors 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 stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the 3rd quarter, according to its most recent filing 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 about 0.52% of Innovation Beverage Group at the end of the most recent reporting period.

Innovation Beverage Group Stock Down 3.7%

Shares of Innovation Beverage Group stock traded down $0.03 during trading on Friday, hitting $0.83. 80,873 shares of the stock traded hands, compared to its average volume of 148,038. Innovation Beverage Group has a twelve month low of $0.72 and a twelve month high of $36.50. The company has a fifty day moving average price of $1.38 and a two-hundred day moving average price of $6.26.

Analysts Set New Price Targets

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

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.