Intelligent Bio Solutions (NASDAQ:INBS) Releases Quarterly Earnings Results, Beats Estimates By $0.45 EPS

Intelligent Bio Solutions (NASDAQ:INBS) released its quarterly earnings results on Tuesday. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.31) by $0.45, Zacks reports. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.

Intelligent Bio Solutions Price Performance

NASDAQ INBS traded down $0.04 during trading hours on Tuesday, reaching $2.25. 33,714 shares of the stock traded hands, compared to its average volume of 273,713. The company has a market cap of $7.48 million, a price-to-earnings ratio of -0.25 and a beta of 4.48. Intelligent Bio Solutions has a 1 year low of $1.35 and a 1 year high of $24.90. The stock has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $2.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Intelligent Bio Solutions presently has a consensus rating of “Reduce”.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc (NASDAQ: INBS) is a life sciences company focused on developing and commercializing non-invasive diagnostic and screening technologies. Its primary product is the Intelligent Bio Solutions Drug Screening System, a portable platform designed to detect drugs of abuse through sweat collected from a person’s fingerprint.

The system uses a disposable drug screening cartridge and a handheld reader to analyze fingerprint sweat and provide results rapidly. The company markets the technology for applications such as workplace testing, law enforcement, rehabilitation programs, and other settings that require convenient, observed drug screening.

Intelligent Bio Solutions was formerly known as GBS Inc and adopted its current name following its acquisition and integration of Intelligent Fingerprinting, a United Kingdom-based developer of fingerprint-based drug screening technology.