Intelligent Bio Solutions (NASDAQ:INBS) Posts Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Intelligent Bio Solutions (NASDAQ:INBS) released its earnings results on Tuesday. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.45, Zacks reports. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.

Intelligent Bio Solutions Trading Down 1.6%

Shares of NASDAQ:INBS traded down $0.04 during mid-day trading on Tuesday, reaching $2.25. The stock had a trading volume of 33,714 shares, compared to its average volume of 273,713. The business’s 50 day moving average price is $1.82 and its 200 day moving average price is $2.94. Intelligent Bio Solutions has a 1 year low of $1.35 and a 1 year high of $24.90. The company has a market cap of $7.48 million, a P/E ratio of -0.25 and a beta of 4.48.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Intelligent Bio Solutions presently has a consensus rating of “Reduce”.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc (NASDAQ: INBS) is a life sciences company focused on developing and commercializing non-invasive diagnostic and screening technologies. Its primary product is the Intelligent Bio Solutions Drug Screening System, a portable platform designed to detect drugs of abuse through sweat collected from a person’s fingerprint.

The system uses a disposable drug screening cartridge and a handheld reader to analyze fingerprint sweat and provide results rapidly. The company markets the technology for applications such as workplace testing, law enforcement, rehabilitation programs, and other settings that require convenient, observed drug screening.

Intelligent Bio Solutions was formerly known as GBS Inc and adopted its current name following its acquisition and integration of Intelligent Fingerprinting, a United Kingdom-based developer of fingerprint-based drug screening technology.