Short Interest in Innovation Beverage Group Limited (NASDAQ:IBG) Decreases By 57.2%

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 18,319 shares, a drop of 57.2% from the January 15th total of 42,817 shares. Based on an average trading volume of 215,398 shares, the days-to-cover ratio is presently 0.1 days. Currently, 5.6% of the company’s shares are sold short. Currently, 5.6% of the company’s shares are sold short. Based on an average trading volume of 215,398 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Innovation Beverage Group

An institutional investor recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE purchased a new position in Innovation Beverage Group Limited (NASDAQ:IBG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 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.

Analyst Ratings Changes

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

Innovation Beverage Group Stock Down 2.3%

Shares of NASDAQ:IBG traded down $0.09 during trading on Thursday, hitting $3.78. The stock had a trading volume of 22,597 shares, compared to its average volume of 162,018. The firm’s fifty day moving average is $8.30 and its 200 day moving average is $12.15. 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 released its quarterly earnings results on Monday, December 29th. The company reported ($2.86) earnings per share for the quarter. The company had revenue of $1.22 million during the quarter. As a group, equities research analysts anticipate that Innovation Beverage Group will post -0.16 EPS for the current fiscal year.

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.