Intelligent Bio Solutions (NASDAQ:INBS) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Intelligent Bio Solutions (NASDAQ:INBS) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

INBS has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Tuesday, April 21st. Wall Street Zen cut 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 Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Intelligent Bio Solutions has a consensus rating of “Reduce”.

Intelligent Bio Solutions Trading Up 3.6%

Shares of Intelligent Bio Solutions stock opened at $2.30 on Monday. The company has a 50-day moving average of $2.61 and a two-hundred day moving average of $4.95. Intelligent Bio Solutions has a 12-month low of $2.08 and a 12-month high of $24.90. The stock has a market cap of $5.50 million, a PE ratio of -0.19 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of $1.40 by ($3.20). The firm had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $7.20 million. Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%. On average, sell-side analysts forecast that Intelligent Bio Solutions will post -3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. grew its position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 673,492 shares of the company’s stock after purchasing an additional 59,600 shares during the period. Alyeska Investment Group L.P. owned 7.12% of Intelligent Bio Solutions worth $687,000 at the end of the most recent quarter. Institutional investors own 32.97% of the company’s stock.

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.