Innovation Beverage Group Limited (NASDAQ:IBG – Get Free Report) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 42,077 shares, a decline of 47.7% from the June 30th total of 80,411 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average daily volume of 107,153 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Innovation Beverage Group stock. Bank of America Corp DE acquired a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG – Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Innovation Beverage Group from a “hold” rating to a “sell” rating in a report on Sunday, May 24th.
Innovation Beverage Group Trading Up 2.7%
Shares of NASDAQ:IBG traded up $0.02 during trading on Thursday, hitting $0.85. 45,051 shares of the company’s stock traded hands, compared to its average volume of 375,443. Innovation Beverage Group has a 52 week low of $0.72 and a 52 week high of $32.50. The company has a 50-day moving average price of $1.02 and a 200-day moving average price of $2.24.
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.
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