Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Down 60.6% in April

Innovation Beverage Group Limited (NASDAQ:IBG) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 14,719 shares, a drop of 60.6% from the April 15th total of 37,382 shares. Based on an average daily volume of 359,352 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

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 position in Innovation Beverage Group Limited (NASDAQ:IBG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 as of its most recent SEC filing.

Innovation Beverage Group Stock Performance

NASDAQ IBG traded down $0.02 during trading on Thursday, hitting $0.86. 67,341 shares of the stock traded hands, compared to its average volume of 508,327. The firm has a 50-day simple moving average of $1.51 and a 200-day simple moving average of $6.43. Innovation Beverage Group has a 12-month low of $0.72 and a 12-month high of $36.50.

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.