Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Up 2,303.4% in March

Innovation Beverage Group Limited (NASDAQ:IBG) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 831,999 shares, a growth of 2,303.4% from the February 26th total of 34,617 shares. Based on an average daily trading volume, of 2,408,484 shares, the days-to-cover ratio is currently 0.3 days. Currently, 83.3% of the shares of the stock are short sold. Currently, 83.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,408,484 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Innovation Beverage Group stock. Bank of America Corp DE acquired a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the third quarter, according to the company in its most recent 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 about 0.52% of Innovation Beverage Group as of its most recent filing with the Securities and Exchange Commission.

Innovation Beverage Group Price Performance

NASDAQ:IBG traded down $0.03 during mid-day trading on Tuesday, reaching $1.21. 243,957 shares of the stock were exchanged, compared to its average volume of 1,540,369. The business has a fifty day moving average price of $4.02 and a 200 day moving average price of $9.68. Innovation Beverage Group has a 1-year low of $0.94 and a 1-year high of $49.25.

Innovation Beverage Group (NASDAQ:IBG) last issued its quarterly earnings results on Monday, December 29th. The company reported ($2.86) earnings per share for the quarter. The business had revenue of $1.22 million for the quarter. As a group, sell-side analysts predict that Innovation Beverage Group will post -0.16 earnings per share for the current fiscal year.

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.