Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Up 2,303.4% in March

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 831,999 shares, a growth of 2,303.4% from the February 26th total of 34,617 shares. Based on an average daily trading volume, of 2,408,484 shares, the short-interest ratio is currently 0.3 days. Currently, 83.3% of the shares of the company are sold short. Currently, 83.3% of the shares of the company are sold short. Based on an average daily trading volume, of 2,408,484 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE acquired a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 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 SEC filing.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Innovation Beverage Group from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th.

Innovation Beverage Group Trading Down 2.4%

NASDAQ:IBG traded down $0.03 during mid-day trading on Tuesday, hitting $1.21. The stock had a trading volume of 243,957 shares, compared to its average volume of 1,540,369. Innovation Beverage Group has a 52 week low of $0.94 and a 52 week high of $49.25. The company has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $9.68.

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

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.