Intelligent Bio Solutions (NASDAQ:INBS) Releases Earnings Results, Beats Estimates By $0.68 EPS

Intelligent Bio Solutions (NASDAQ:INBS) posted its earnings results on Wednesday. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.58) by $0.68, FiscalAI reports. The firm had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.22 million. Intelligent Bio Solutions had a negative return on equity of 161.68% and a negative net margin of 294.88%.

Intelligent Bio Solutions Stock Down 0.7%

NASDAQ:INBS opened at $2.65 on Friday. The company has a market capitalization of $6.33 million, a PE ratio of -0.29 and a beta of 4.21. Intelligent Bio Solutions has a 52-week low of $1.52 and a 52-week high of $24.90. The stock’s 50 day moving average price is $2.19 and its 200 day moving average price is $3.06.

Analyst Upgrades and Downgrades

INBS has been the subject of several analyst reports. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Friday, July 17th. Finally, Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Institutional Investors Weigh In On Intelligent Bio Solutions

An institutional investor recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC bought a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned 4.70% of Intelligent Bio Solutions at the end of the most recent reporting period. Institutional investors and hedge funds 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.