Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Down 38.8% in May

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 91,169 shares, a drop of 38.8% from the May 14th total of 149,005 shares. Based on an average trading volume of 110,774 shares, the short-interest ratio is currently 0.8 days. Approximately 3.9% of the shares of the stock are short sold.

Intelligent Bio Solutions Trading Down 1.3%

Intelligent Bio Solutions stock opened at $2.30 on Wednesday. The firm has a market cap of $5.50 million, a P/E ratio of -0.19 and a beta of 4.21. Intelligent Bio Solutions has a 1-year low of $2.24 and a 1-year high of $24.90. The firm has a 50-day moving average of $2.69 and a 200-day moving average of $5.28.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($3.20). Intelligent Bio Solutions had a negative net margin of 296.73% and a negative return on equity of 176.09%. The business had revenue of $1.06 million for the quarter, compared to the consensus estimate of $7.20 million.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Tuesday, April 21st. 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. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average 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 acquired a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned approximately 4.70% of Intelligent Bio Solutions at the end of the most recent quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.

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.