Innovation Beverage Group (NASDAQ:IBG) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Innovation Beverage Group (NASDAQ:IBG) from a hold rating to a sell rating in a report issued on Sunday morning.

Innovation Beverage Group Stock Up 16.0%

Shares of IBG stock opened at $4.78 on Friday. The company has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $12.42. Innovation Beverage Group has a 12 month low of $3.26 and a 12 month high of $49.25.

Innovation Beverage Group (NASDAQ:IBG) last posted its quarterly earnings data on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The firm had revenue of $1.22 million during the quarter. On average, research analysts expect that Innovation Beverage Group will post -0.16 earnings per share for the current fiscal year.

Hedge Funds 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 shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

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.