Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Update
by Sarita Garza · The Markets DailyIntelligent Bio Solutions Inc. (NASDAQ:INBS – Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 91,169 shares, a decrease of 38.8% from the May 14th total of 149,005 shares. Based on an average daily trading volume, of 110,774 shares, the short-interest ratio is presently 0.8 days. Approximately 3.9% of the shares of the company are sold short.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC purchased a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned about 4.70% of Intelligent Bio Solutions at the end of the most recent reporting period. Hedge funds and other institutional investors own 32.97% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.
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Intelligent Bio Solutions Stock Performance
INBS traded down $0.07 on Monday, hitting $2.33. 60,480 shares of the company were exchanged, compared to its average volume of 418,668. The business’s fifty day moving average is $2.71 and its 200 day moving average is $5.34. Intelligent Bio Solutions has a fifty-two week low of $2.24 and a fifty-two week high of $24.90. The firm has a market capitalization of $5.57 million, a P/E ratio of -0.19 and a beta of 4.21.
Intelligent Bio Solutions (NASDAQ:INBS – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of $1.40 by ($3.20). Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%.The company had revenue of $1.06 million for the quarter, compared to analyst estimates of $7.20 million.
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.