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

Innovation Beverage Group (NASDAQ:IBG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Innovation Beverage Group Stock Down 1.6%

Shares of IBG opened at $1.89 on Friday. The stock has a 50-day moving average of $2.39 and a two-hundred day moving average of $2.87. Innovation Beverage Group has a one year low of $1.48 and a one year high of $9.85.

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 stake in Innovation Beverage Group Limited (NASDAQ:IBG) during the 3rd quarter, according to its most recent disclosure 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 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.