Short Interest in Innovation Beverage Group Limited (NASDAQ:IBG) Declines By 49.9%

Innovation Beverage Group Limited (NASDAQ:IBG) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 37,382 shares, a decline of 49.9% from the March 31st total of 74,550 shares. Based on an average trading volume of 278,134 shares, the short-interest ratio is currently 0.1 days. Approximately 3.7% of the company’s stock are sold short.

Analysts Set New Price Targets

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

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 position in Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 Trading Down 1.8%

Shares of Innovation Beverage Group stock traded down $0.02 on Monday, hitting $1.09. 164,535 shares of the company traded hands, compared to its average volume of 349,488. Innovation Beverage Group has a 52 week low of $0.94 and a 52 week high of $36.50. The business has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $7.62.

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.