Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Update

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 42,077 shares, a drop of 47.7% from the June 30th total of 80,411 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 107,153 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Innovation Beverage Group

A hedge fund recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE purchased a new stake in Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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 as of its most recent filing with the SEC.

Innovation Beverage Group Stock Down 3.4%

IBG traded down $0.03 during trading on Wednesday, hitting $0.86. The company’s stock had a trading volume of 11,116 shares, compared to its average volume of 377,731. Innovation Beverage Group has a twelve month low of $0.72 and a twelve month high of $32.50. The business’s fifty day simple moving average is $1.02 and its 200 day simple moving average is $2.29.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Innovation Beverage Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th.

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.