Innovation Beverage Group Limited (NASDAQ:IBG) Sees Significant Increase in Short Interest
by Sarita Garza · The Markets DailyInnovation Beverage Group Limited (NASDAQ:IBG – Get Free Report) saw a significant increase in short interest in February. As of February 27th, there was short interest totaling 34,617 shares, an increase of 95.0% from the February 12th total of 17,754 shares. Based on an average daily trading volume, of 182,734 shares, the short-interest ratio is currently 0.2 days. Approximately 10.5% of the company’s shares are sold short. Approximately 10.5% of the company’s shares are sold short. Based on an average daily trading volume, of 182,734 shares, the short-interest ratio is currently 0.2 days.
Innovation Beverage Group Stock Up 8.8%
Shares of Innovation Beverage Group stock traded up $0.20 during trading on Thursday, hitting $2.46. The company’s stock had a trading volume of 714,485 shares, compared to its average volume of 546,880. Innovation Beverage Group has a 52 week low of $2.12 and a 52 week high of $49.25. The company has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $10.50.
Innovation Beverage Group (NASDAQ:IBG – Get Free Report) last announced its quarterly earnings data 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 anticipate that Innovation Beverage Group will post -0.16 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Innovation Beverage Group
A hedge fund recently bought a new stake in Innovation Beverage Group stock. Bank of America Corp DE purchased a new stake in shares of Innovation Beverage Group Limited (NASDAQ:IBG – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,630 shares of the company’s stock, valued at approximately $38,000. Bank of America Corp DE owned approximately 0.52% of Innovation Beverage Group at the end of the most recent reporting period.
Analyst Ratings Changes
Separately, Wall Street Zen downgraded Innovation Beverage Group from a “hold” rating to a “sell” rating in a report on Sunday, February 8th.
Get Our Latest Stock Report on IBG
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.