Short Interest in Innovation Beverage Group Limited (NASDAQ:IBG) Grows By 95.0%

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 34,617 shares, an increase of 95.0% from the February 12th total of 17,754 shares. Approximately 10.5% of the company’s shares are short sold. Based on an average daily volume of 182,734 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 182,734 shares, the days-to-cover ratio is currently 0.2 days. Approximately 10.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Innovation Beverage Group

An institutional investor 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) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 Performance

Shares of Innovation Beverage Group stock traded down $1.36 on Friday, hitting $1.10. 4,521,904 shares of the company’s stock traded hands, compared to its average volume of 1,144,693. The firm’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $10.36. Innovation Beverage Group has a one year low of $1.03 and a one year high of $49.25.

Innovation Beverage Group (NASDAQ:IBG) last announced its quarterly earnings data on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The company had revenue of $1.22 million during the quarter. As a group, equities research analysts predict that Innovation Beverage Group will post -0.16 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.