Intelligent Bio Solutions Inc. (NASDAQ:INBS) Sees Significant Increase in Short Interest

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 369,460 shares, an increase of 187.3% from the December 31st total of 128,608 shares. Based on an average daily trading volume, of 3,407,692 shares, the short-interest ratio is currently 0.1 days. Approximately 30.8% of the company’s shares are sold short. Approximately 30.8% of the company’s shares are sold short. Based on an average daily trading volume, of 3,407,692 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INBS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Thursday, January 22nd. Wall Street Zen lowered Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Intelligent Bio Solutions

Institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. raised 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 acquiring an additional 59,600 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Intelligent Bio Solutions during the 3rd quarter worth about $435,000. Finally, Warberg Asset Management LLC bought a new stake in shares of Intelligent Bio Solutions in the 3rd quarter valued at about $46,000. 32.97% of the stock is currently owned by institutional investors and hedge funds.

Intelligent Bio Solutions Trading Up 2.9%

Intelligent Bio Solutions stock opened at $9.12 on Thursday. The company has a fifty day simple moving average of $8.68 and a 200 day simple moving average of $11.77. Intelligent Bio Solutions has a 1-year low of $4.03 and a 1-year high of $27.50. The company has a market cap of $11.13 million, a P/E ratio of -0.54 and a beta of 4.45.

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

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.