Intelligent Bio Solutions (NASDAQ:INBS) Issues Earnings Results

Intelligent Bio Solutions (NASDAQ:INBS) released its quarterly earnings data on Tuesday. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.31) by $0.45, Zacks reports. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 175.35%. The firm had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $1.40 million.

Intelligent Bio Solutions Price Performance

Shares of Intelligent Bio Solutions stock traded down $0.13 during trading on Wednesday, reaching $2.12. 49,734 shares of the stock traded hands, compared to its average volume of 272,801. The company has a market capitalization of $7.05 million, a price-to-earnings ratio of -0.24 and a beta of 4.48. The business has a fifty day simple moving average of $1.82 and a two-hundred day simple moving average of $2.90. Intelligent Bio Solutions has a 52-week low of $1.35 and a 52-week high of $24.90.

Wall Street Analyst Weigh In

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

Intelligent Bio Solutions Company Profile

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.