Intelligent Bio Solutions Inc. (NASDAQ:INBS) Stock Short Interest Report for September

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 58,294 shares, a decline of 51.2% from the September 15th total of 119,549 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average trading volume of 41,999 shares, the days-to-cover ratio is currently 1.4 days.

Intelligent Bio Solutions Price Performance

INBS traded up $0.01 on Friday, reaching $1.46. 7,939 shares of the company traded hands, compared to its average volume of 294,248. The stock’s 50 day moving average price is $2.08 and its 200-day moving average price is $2.32. Intelligent Bio Solutions has a 52-week low of $1.35 and a 52-week high of $24.90. The company has a market cap of $4.83 million, a price-to-earnings ratio of -0.16 and a beta of 4.31.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INBS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Thursday. Zacks Research raised Intelligent Bio Solutions to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions Inc is a life sciences company developing rapid, non-invasive drug-screening technologies. Its primary product is the Intelligent Fingerprinting Drug Screening System, which analyzes sweat collected from a person’s fingerprint to identify the presence of commonly used drugs.

The system combines a disposable drug-screening cartridge with a portable reader and associated software. By using fingerprint sweat rather than blood or urine, the company aims to provide a convenient testing option for organizations such as employers, law-enforcement agencies, drug-treatment providers and other healthcare or public-sector users.

Intelligent Bio Solutions has roots in the development of diagnostic technologies and was formerly known as GBS Inc The company markets its fingerprint-based screening products internationally, including in the United Kingdom and other markets, subject to applicable regulatory and commercial requirements.