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

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 33,513 shares, a decline of 74.6% from the January 29th total of 131,837 shares. Based on an average daily volume of 90,292 shares, the short-interest ratio is currently 0.4 days. Currently, 2.1% of the shares of the company are sold short. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 90,292 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

A number of research firms have commented on INBS. Wall Street Zen raised shares of Intelligent Bio Solutions to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Intelligent Bio Solutions

A number of hedge funds have recently modified their holdings of INBS. Warberg Asset Management LLC purchased a new stake in shares of Intelligent Bio Solutions in the third quarter worth $46,000. ADAR1 Capital Management LLC purchased a new stake in Intelligent Bio Solutions in the 3rd quarter worth $435,000. Finally, Alyeska Investment Group L.P. raised its holdings in Intelligent Bio Solutions by 9.7% during the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock valued at $687,000 after acquiring an additional 59,600 shares during the period. 32.97% of the stock is currently owned by institutional investors.

Intelligent Bio Solutions Price Performance

Shares of NASDAQ:INBS traded up $0.59 during midday trading on Friday, hitting $4.50. The company had a trading volume of 285,959 shares, compared to its average volume of 129,496. Intelligent Bio Solutions has a 12-month low of $3.70 and a 12-month high of $25.00. The company has a fifty day moving average of $8.24 and a two-hundred day moving average of $10.00. The company has a market cap of $7.20 million, a price-to-earnings ratio of -0.30 and a beta of 4.48.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Thursday, February 12th. The company reported ($2.82) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($3.22). Intelligent Bio Solutions had a negative net margin of 315.33% and a negative return on equity of 200.68%. The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $5.50 million. Research analysts expect that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

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.