Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Update

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 149,005 shares, a growth of 172.7% from the April 30th total of 54,635 shares. Currently, 6.3% of the company’s shares are sold short. Based on an average daily trading volume, of 247,781 shares, the short-interest ratio is presently 0.6 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INBS shares. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Intelligent Bio Solutions has a consensus rating of “Sell”.

Institutional Investors Weigh In On Intelligent Bio Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Warberg Asset Management LLC purchased a new stake in Intelligent Bio Solutions in the 3rd quarter valued at $46,000. ADAR1 Capital Management LLC purchased a new stake in shares of Intelligent Bio Solutions during the 3rd quarter valued at $435,000. Finally, Alyeska Investment Group L.P. increased its position in shares of Intelligent Bio Solutions by 9.7% during the 3rd 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. 32.97% of the stock is owned by hedge funds and other institutional investors.

Intelligent Bio Solutions Price Performance

Shares of NASDAQ:INBS traded up $0.05 during trading on Friday, reaching $2.57. 49,072 shares of the stock were exchanged, compared to its average volume of 185,467. Intelligent Bio Solutions has a 1-year low of $2.27 and a 1-year high of $24.90. The stock has a fifty day moving average of $2.88 and a two-hundred day moving average of $5.67. The firm has a market cap of $6.14 million, a price-to-earnings ratio of -0.21 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its earnings results on Wednesday, May 13th. The company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($3.20). Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%.The firm had revenue of $1.06 million for the quarter, compared to analyst estimates of $7.20 million.

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.