Intelligent Bio Solutions (INBS) Projected to Post Quarterly Earnings on Tuesday

Intelligent Bio Solutions (NASDAQ:INBS) will likely be issuing its results before the market opens on Tuesday, May 12th. Analysts expect the company to announce earnings of $1.40 per share and revenue of $7.20 million for the quarter.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results 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 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 analysts’ expectations of $5.50 million.

Intelligent Bio Solutions Stock Performance

Shares of INBS stock traded down $0.09 during mid-day trading on Tuesday, hitting $2.41. The company’s stock had a trading volume of 10,959 shares, compared to its average volume of 504,539. Intelligent Bio Solutions has a 52-week low of $2.29 and a 52-week high of $24.90. The business has a 50-day moving average price of $3.32 and a 200 day moving average price of $6.56. The stock has a market cap of $4.82 million, a price-to-earnings ratio of -0.16 and a beta of 4.24.

Institutional Trading of Intelligent Bio Solutions

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC acquired a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 32.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INBS has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Tuesday, April 21st. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Intelligent Bio Solutions currently has a consensus rating of “Sell”.

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.