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

Intelligent Bio Solutions Inc. (NASDAQ:INBS) 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. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 110,774 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

INBS has been the topic of several research reports. 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. Weiss Ratings restated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Intelligent Bio Solutions presently has a consensus rating of “Sell”.

Institutional Trading of Intelligent Bio Solutions

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC bought a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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.

Intelligent Bio Solutions Stock Performance

NASDAQ INBS traded down $0.07 during mid-day trading on Monday, reaching $2.33. 60,480 shares of the stock were exchanged, compared to its average volume of 418,668. Intelligent Bio Solutions has a 1-year low of $2.24 and a 1-year high of $24.90. The business’s fifty day simple moving average is $2.71 and its 200 day simple moving average is $5.34. The stock has a market capitalization of $5.57 million, a PE ratio of -0.19 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its earnings results on Wednesday, May 13th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.06 million for the quarter, compared to analyst estimates of $7.20 million.

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.