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

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 49,375 shares, a decrease of 52.2% from the July 15th total of 103,339 shares. Based on an average daily volume of 101,425 shares, the short-interest ratio is presently 0.5 days. Currently, 2.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INBS. Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Intelligent Bio Solutions has an average rating of “Reduce”.

Intelligent Bio Solutions Stock Performance

INBS traded down $0.23 on Friday, hitting $2.77. The company had a trading volume of 90,992 shares, compared to its average volume of 106,362. The stock has a market capitalization of $6.63 million, a price-to-earnings ratio of -0.23 and a beta of 4.21. The stock has a fifty day moving average price of $2.14 and a 200-day moving average price of $3.26. Intelligent Bio Solutions has a 12-month low of $1.52 and a 12-month high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of $1.40 by ($3.20). Intelligent Bio Solutions had a negative net margin of 296.73% and a negative return on equity of 176.09%. The firm had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $7.20 million. Analysts forecast that Intelligent Bio Solutions will post -3.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Intelligent Bio Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Group One Trading LLC acquired a new stake in Intelligent Bio Solutions in the second quarter valued at approximately $31,000. Global Retirement Partners LLC acquired a new position in shares of Intelligent Bio Solutions during the second quarter worth $34,000. Allworth Financial LP acquired a new position in shares of Intelligent Bio Solutions during the second quarter worth $43,000. Callan Family Office LLC acquired a new position in shares of Intelligent Bio Solutions during the second quarter worth $57,000. Finally, Meeder Advisory Services Inc. purchased a new stake in shares of Intelligent Bio Solutions during the 2nd quarter valued at $64,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.

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.