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

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 119,549 shares, a growth of 255.0% from the August 31st total of 33,673 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average trading volume of 542,875 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

A number of research firms have commented on INBS. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Intelligent Bio Solutions Stock Performance

NASDAQ INBS opened at $1.70 on Monday. The stock has a fifty day moving average of $2.14 and a 200-day moving average of $2.52. The stock has a market capitalization of $5.64 million, a P/E ratio of -0.19 and a beta of 4.25. Intelligent Bio Solutions has a 52 week low of $1.52 and a 52 week high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.68. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.22 million. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%. Equities research analysts forecast that Intelligent Bio Solutions will post -5.18 earnings per share for the current fiscal year.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions Inc is a life sciences company focused on non-invasive diagnostic and drug-screening technologies. Its primary product is the Intelligent Fingerprinting Drug Screening System, which analyzes sweat collected from a fingerprint to identify drug metabolites.

The system is designed to provide rapid, portable testing without blood or urine collection. It is intended for use by organizations such as employers, law enforcement agencies, drug-treatment providers, and other institutions that require convenient drug screening and monitoring.

The company’s technology originated with Intelligent Fingerprinting, a United Kingdom-based developer that was acquired by Intelligent Bio Solutions.