Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Down 74.6% in February

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a large drop in short interest in February. As of February 13th, there was short interest totaling 33,513 shares, a drop of 74.6% from the January 29th total of 131,837 shares. Based on an average trading volume of 90,292 shares, the short-interest ratio is currently 0.4 days. Approximately 2.1% of the company’s stock are sold short. Approximately 2.1% of the company’s stock are sold short. Based on an average trading volume of 90,292 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

INBS has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Thursday, January 22nd. Wall Street Zen raised shares of Intelligent Bio Solutions to a “sell” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. lifted its position in Intelligent Bio Solutions by 9.7% during the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock valued at $687,000 after purchasing an additional 59,600 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Intelligent Bio Solutions in the 3rd quarter valued at $435,000. Finally, Warberg Asset Management LLC bought a new stake in shares of Intelligent Bio Solutions during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.

Intelligent Bio Solutions Price Performance

INBS stock traded up $0.59 during trading on Friday, hitting $4.50. 285,959 shares of the stock traded hands, compared to its average volume of 129,496. Intelligent Bio Solutions has a 1 year low of $3.70 and a 1 year high of $25.00. The stock has a market cap of $7.20 million, a price-to-earnings ratio of -0.30 and a beta of 4.48. The firm’s 50 day moving average is $8.24 and its two-hundred day moving average is $10.00.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its earnings results on Thursday, February 12th. The company reported ($2.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($3.22). The firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $5.50 million. Intelligent Bio Solutions had a negative net margin of 315.33% and a negative return on equity of 200.68%. As a group, analysts anticipate that Intelligent Bio Solutions will post -1.25 EPS for the current fiscal year.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions, Inc, through its wholly owned subsidiary, is focused on the design, development and marketing of rapid, real-time detection and identification systems for foodborne and environmental pathogens. The company’s flagship product, the RAPID-B System, integrates patented biosensor and fluorescence technologies to detect viable microorganisms in a fraction of the time required by traditional culture-based testing methods. This approach enables food processors, beverage producers, environmental testing laboratories and homeland security agencies to identify contaminants such as Escherichia coli O157:H7, Salmonella spp.