Innovation Beverage Group Limited (NASDAQ:IBG) Sees Large Increase in Short Interest

Innovation Beverage Group Limited (NASDAQ:IBG) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 115,135 shares, a growth of 283.9% from the May 31st total of 29,990 shares. Currently, 10.8% of the company’s shares are sold short. Based on an average daily volume of 291,589 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Innovation Beverage Group

A hedge fund recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE purchased a new stake in Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to its most recent filing with the SEC. The firm 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 Price Performance

Shares of NASDAQ IBG traded up $0.04 during midday trading on Friday, reaching $1.09. 41,453 shares of the company’s stock traded hands, compared to its average volume of 247,446. The stock’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $3.91. Innovation Beverage Group has a one year low of $0.72 and a one year high of $36.50.

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.