Innovation Beverage Group Limited (NASDAQ:IBG) Short Interest Up 93.7% in May

Innovation Beverage Group Limited (NASDAQ:IBG) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 29,990 shares, a growth of 93.7% from the May 14th total of 15,479 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 83,316 shares, the days-to-cover ratio is currently 0.4 days.

Innovation Beverage Group Stock Performance

Shares of IBG traded down $0.14 during mid-day trading on Friday, reaching $1.22. 329,837 shares of the company’s stock were exchanged, compared to its average volume of 190,063. The business’s fifty day simple moving average is $1.03 and its 200-day simple moving average is $4.66. Innovation Beverage Group has a 52-week low of $0.72 and a 52-week high of $36.50.

Hedge Funds Weigh In On Innovation Beverage Group

An institutional investor recently bought a new position in Innovation Beverage Group stock. Bank of America Corp DE bought a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 quarter.

Wall Street Analysts Forecast Growth

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

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.