Short Interest in Innovation Beverage Group Limited (NASDAQ:IBG) Declines By 60.6%

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 14,719 shares, a drop of 60.6% from the April 15th total of 37,382 shares. Based on an average daily trading volume, of 359,352 shares, the short-interest ratio is currently 0.0 days. Currently, 1.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Innovation Beverage Group Price Performance

Shares of IBG stock traded down $0.02 during trading hours on Thursday, reaching $0.86. 67,341 shares of the stock were exchanged, compared to its average volume of 508,327. Innovation Beverage Group has a 12-month low of $0.72 and a 12-month high of $36.50. The company’s 50-day moving average price is $1.51 and its 200-day moving average price is $6.43.

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 position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 quarter.

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.