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

Innovation Beverage Group Limited (NASDAQ:IBG) saw a large 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. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 83,316 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

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

Innovation Beverage Group Stock Performance

NASDAQ IBG traded down $0.04 during trading on Tuesday, hitting $1.18. 276,057 shares of the stock traded hands, compared to its average volume of 449,293. Innovation Beverage Group has a 12-month low of $0.72 and a 12-month high of $36.50. The firm has a 50-day simple moving average of $1.03 and a 200-day simple moving average of $4.59.

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 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 and Exchange Commission (SEC). The institutional investor acquired 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 at the end of the most recent reporting period.

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.