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

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a significant drop in short interest in 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. Approximately 3.9% of the company’s stock are sold short. Based on an average trading volume of 107,153 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE bought a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.

Analysts Set New Price Targets

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

Innovation Beverage Group Stock Performance

IBG traded down $0.03 during trading on Wednesday, reaching $0.86. 11,116 shares of the company’s stock were exchanged, compared to its average volume of 377,731. Innovation Beverage Group has a 1 year low of $0.72 and a 1 year high of $32.50. The company’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $2.29.

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.