Intelligent Bio Solutions (NASDAQ:INBS) Releases Quarterly Earnings Results, Misses Expectations By $3.20 EPS

Intelligent Bio Solutions (NASDAQ:INBS) announced its quarterly earnings data on Tuesday. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($3.20), FiscalAI reports. 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 200.68% and a negative net margin of 315.33%.

Intelligent Bio Solutions Trading Up 9.7%

Shares of Intelligent Bio Solutions stock traded up $0.39 during trading on Thursday, reaching $4.38. The company’s stock had a trading volume of 487,901 shares, compared to its average volume of 490,792. The stock has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $6.19. Intelligent Bio Solutions has a one year low of $2.27 and a one year high of $24.90. The stock has a market capitalization of $8.76 million, a P/E ratio of -0.30 and a beta of 4.24.

Institutional Trading of Intelligent Bio Solutions

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC acquired a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned 4.70% of Intelligent Bio Solutions as of its most recent SEC filing. 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 a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Tuesday, April 21st. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

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.