Short Interest in Innovation Beverage Group Limited (NASDAQ:IBG) Drops By 52.5%

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 32,401 shares, a drop of 52.5% from the December 15th total of 68,244 shares. Based on an average daily volume of 74,765 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the shares of the stock are short sold. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily volume of 74,765 shares, the short-interest ratio is currently 0.4 days.

Innovation Beverage Group Price Performance

Shares of IBG stock traded up $0.05 during mid-day trading on Wednesday, hitting $1.73. 14,494 shares of the company’s stock were exchanged, compared to its average volume of 61,339. Innovation Beverage Group has a fifty-two week low of $1.40 and a fifty-two week high of $9.85. The stock has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $2.81.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Innovation Beverage Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE acquired a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 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 reporting period.

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.