Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Update

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 44,416 shares, a drop of 53.0% from the February 26th total of 94,421 shares. Based on an average daily trading volume, of 52,272 shares, the short-interest ratio is currently 0.8 days. Currently, 2.8% of the company’s shares are short sold.

Intelligent Bio Solutions Trading Up 1.5%

INBS traded up $0.05 during trading hours on Thursday, hitting $3.40. 33,943 shares of the company’s stock were exchanged, compared to its average volume of 689,582. The firm has a market cap of $6.80 million, a P/E ratio of -0.23 and a beta of 4.58. Intelligent Bio Solutions has a 12-month low of $3.18 and a 12-month high of $24.90. The firm has a 50 day moving average of $6.14 and a 200 day moving average of $8.53.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($2.82) EPS for the quarter, missing the consensus estimate of $0.40 by ($3.22). Intelligent Bio Solutions had a negative return on equity of 200.68% and a negative net margin of 315.33%.The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $5.50 million. As a group, research analysts expect that Intelligent Bio Solutions will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on INBS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a 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 MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC acquired a new stake in Intelligent Bio Solutions in the 3rd quarter valued at about $435,000. Alyeska Investment Group L.P. boosted its stake in shares of 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 buying an additional 59,600 shares during the period. Finally, Warberg Asset Management LLC acquired a new position in shares of Intelligent Bio Solutions during the third quarter worth about $46,000. 32.97% of the stock is owned by institutional investors and hedge funds.

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.