Intelligent Bio Solutions Inc. (NASDAQ:INBS) Shares Shorted: Short Interest Down 51.2% in September

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 58,294 shares, a decline of 51.2% from the September 15th total of 119,549 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 41,999 shares, the short-interest ratio is presently 1.4 days.

Intelligent Bio Solutions Trading Down 2.0%

Shares of NASDAQ INBS traded down $0.03 during midday trading on Wednesday, reaching $1.45. The company’s stock had a trading volume of 94,226 shares, compared to its average volume of 296,925. The company has a market cap of $4.81 million, a price-to-earnings ratio of -0.16 and a beta of 4.31. Intelligent Bio Solutions has a one year low of $1.35 and a one year high of $24.90. The company has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.35.

Analysts Set New Price Targets

A number of research analysts have issued reports on INBS shares. Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Intelligent Bio Solutions presently has a consensus rating of “Reduce”.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions Inc is a life sciences company developing rapid, non-invasive drug-screening technologies. Its primary product is the Intelligent Fingerprinting Drug Screening System, which analyzes sweat collected from a person’s fingerprint to identify the presence of commonly used drugs.

The system combines a disposable drug-screening cartridge with a portable reader and associated software. By using fingerprint sweat rather than blood or urine, the company aims to provide a convenient testing option for organizations such as employers, law-enforcement agencies, drug-treatment providers and other healthcare or public-sector users.

Intelligent Bio Solutions has roots in the development of diagnostic technologies and was formerly known as GBS Inc The company markets its fingerprint-based screening products internationally, including in the United Kingdom and other markets, subject to applicable regulatory and commercial requirements.