Innovation Beverage Group (NASDAQ:IBG) Rating Increased to Hold at Wall Street Zen

Innovation Beverage Group (NASDAQ:IBG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Innovation Beverage Group Stock Up 11.3%

IBG stock opened at $3.73 on Friday. The stock has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $13.23. Innovation Beverage Group has a twelve month low of $3.27 and a twelve month high of $49.25.

Innovation Beverage Group (NASDAQ:IBG) last released its quarterly earnings data on Monday, December 29th. The company reported ($2.86) EPS for the quarter. The firm had revenue of $1.22 million for the quarter. As a group, equities analysts predict that Innovation Beverage Group will post -0.16 EPS 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 bought a new position in shares of Innovation Beverage Group Limited (NASDAQ:IBG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.

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.