Innovation Beverage Group Limited (NASDAQ:IBG) Sees Significant Decline in Short Interest

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a significant 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. Based on an average daily trading volume, of 107,153 shares, the short-interest ratio is presently 0.4 days. Approximately 3.9% of the shares of the company are short sold.

Innovation Beverage Group Stock Performance

Shares of IBG traded up $0.03 during mid-day trading on Friday, hitting $0.88. The stock had a trading volume of 10,153 shares, compared to its average volume of 372,924. The business has a fifty day moving average price of $1.02 and a 200-day moving average price of $2.19. Innovation Beverage Group has a 52 week low of $0.72 and a 52 week high of $32.50.

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 acquired a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the 3rd quarter, according to its most recent disclosure 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 about 0.52% of Innovation Beverage Group as of its most recent SEC filing.

Wall Street Analyst Weigh In

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

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.