Intelligent Bio Solutions (NASDAQ:INBS) Raised to “Hold” at Zacks Research

Intelligent Bio Solutions (NASDAQ:INBS) was upgraded by research analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on INBS. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Intelligent Bio Solutions Stock Up 3.6%

INBS opened at $2.30 on Monday. The firm has a market cap of $5.50 million, a PE ratio of -0.19 and a beta of 4.21. The business has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $4.95. Intelligent Bio Solutions has a fifty-two week low of $2.08 and a fifty-two week high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last issued 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). The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $7.20 million. Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%. On average, equities research analysts anticipate that Intelligent Bio Solutions will post -3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. increased its holdings in Intelligent Bio Solutions Inc. (NASDAQ:INBS) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,492 shares of the company’s stock after acquiring an additional 59,600 shares during the period. Alyeska Investment Group L.P. owned about 7.12% of Intelligent Bio Solutions worth $687,000 at the end of the most recent reporting period. 32.97% of the stock is currently owned by institutional investors and hedge funds.

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.