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

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 115,135 shares, an increase of 283.9% from the May 31st total of 29,990 shares. Based on an average daily volume of 291,589 shares, the short-interest ratio is presently 0.4 days. Currently, 10.8% of the company’s shares are short sold.

Innovation Beverage Group Stock Up 4.2%

Shares of NASDAQ:IBG traded up $0.04 on Friday, hitting $1.09. 41,453 shares of the company’s stock were exchanged, compared to its average volume of 247,446. Innovation Beverage Group has a 12 month low of $0.72 and a 12 month high of $36.50. The business’s 50 day simple moving average is $1.04 and its two-hundred day simple moving average is $3.91.

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 report on Sunday, May 24th.

Institutional Investors 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 shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 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 filing with the Securities & Exchange Commission.

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.