Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Down 64.3% in January

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 131,837 shares, a drop of 64.3% from the January 15th total of 369,460 shares. Approximately 11.0% of the company’s stock are sold short. Based on an average daily volume of 172,319 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 172,319 shares, the short-interest ratio is currently 0.8 days. Approximately 11.0% of the company’s stock are sold short.

Intelligent Bio Solutions Stock Down 3.7%

Shares of NASDAQ INBS opened at $5.50 on Wednesday. The company has a market cap of $6.71 million, a P/E ratio of -0.32 and a beta of 4.48. Intelligent Bio Solutions has a 12 month low of $4.03 and a 12 month high of $27.50. The business’s 50 day moving average is $8.76 and its two-hundred day moving average is $10.90.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($2.00). Intelligent Bio Solutions had a negative return on equity of 276.73% and a negative net margin of 330.00%.The company had revenue of $1.11 million during the quarter, compared to analyst estimates of $4.80 million. Sell-side analysts expect that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intelligent Bio Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in INBS. Alyeska Investment Group L.P. raised its holdings in Intelligent Bio Solutions by 9.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock valued at $687,000 after acquiring an additional 59,600 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Intelligent Bio Solutions during the third quarter valued at approximately $435,000. Finally, Warberg Asset Management LLC acquired a new position in shares of Intelligent Bio Solutions in the third quarter valued at $46,000. 32.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INBS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Thursday, January 22nd. Wall Street Zen upgraded Intelligent Bio Solutions to a “sell” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Intelligent Bio Solutions

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.