Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Down 68.0% in August

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 33,673 shares, a decline of 68.0% from the August 15th total of 105,073 shares. Based on an average daily trading volume, of 90,645 shares, the short-interest ratio is presently 0.4 days. Approximately 1.1% of the company’s shares are short sold.

Intelligent Bio Solutions Price Performance

NASDAQ INBS traded down $0.06 during midday trading on Friday, hitting $2.13. 30,088 shares of the company traded hands, compared to its average volume of 336,077. Intelligent Bio Solutions has a 52 week low of $1.52 and a 52 week high of $24.90. The company’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $2.70. The company has a market cap of $6.45 million, a PE ratio of -0.24 and a beta of 4.25.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.58) by $0.68. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $1.22 million. On average, research analysts predict that Intelligent Bio Solutions will post -5.18 earnings per share for the current year.

Institutional Trading of Intelligent Bio Solutions

An institutional investor recently raised its position in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. raised its position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 673,492 shares of the company’s stock after purchasing an additional 59,600 shares during the quarter. Alyeska Investment Group L.P. owned 7.12% of Intelligent Bio Solutions worth $687,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 32.97% of the company’s stock.

Wall Street Analyst Weigh In

INBS has been the topic of several recent analyst reports. Zacks Research raised Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intelligent Bio Solutions has a consensus rating of “Reduce”.

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.