Intelligent Bio Solutions Inc. (NASDAQ:INBS) Sees Large Growth in Short Interest

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 94,421 shares, a growth of 181.7% from the February 12th total of 33,513 shares. Based on an average daily volume of 129,484 shares, the short-interest ratio is currently 0.7 days. Approximately 6.0% of the company’s shares are short sold. Approximately 6.0% of the company’s shares are short sold. Based on an average daily volume of 129,484 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Intelligent Bio Solutions

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

Intelligent Bio Solutions Stock Performance

Shares of INBS stock traded down $0.01 during trading on Wednesday, hitting $4.08. 23,234 shares of the company were exchanged, compared to its average volume of 839,801. The business’s 50-day simple moving average is $8.14 and its 200 day simple moving average is $9.41. Intelligent Bio Solutions has a twelve month low of $3.70 and a twelve month high of $24.90. The firm has a market capitalization of $6.53 million, a price-to-earnings ratio of -0.28 and a beta of 4.58.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings data on Thursday, February 12th. The company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($3.22). Intelligent Bio Solutions had a negative net margin of 315.33% and a negative return on equity of 200.68%. The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $5.50 million. On average, equities analysts forecast that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

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.