Intelligent Bio Solutions Inc. (NASDAQ:INBS) Sees Large Decline in Short Interest

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 131,837 shares, a drop of 64.3% from the January 15th total of 369,460 shares. Based on an average trading volume of 172,319 shares, the days-to-cover ratio is currently 0.8 days. Currently, 11.0% of the shares of the stock are short sold. Currently, 11.0% of the shares of the stock are short sold. Based on an average trading volume of 172,319 shares, the days-to-cover ratio is currently 0.8 days.

Intelligent Bio Solutions Stock Performance

Shares of NASDAQ:INBS traded up $0.12 during trading on Friday, hitting $5.02. The company’s stock had a trading volume of 38,000 shares, compared to its average volume of 1,238,783. Intelligent Bio Solutions has a fifty-two week low of $4.03 and a fifty-two week high of $27.50. The company has a market capitalization of $6.12 million, a PE ratio of -0.30 and a beta of 4.48. The stock’s 50-day moving average price is $8.68 and its two-hundred day moving average price is $10.82.

Intelligent Bio Solutions (NASDAQ:INBS) last released its earnings results on Thursday, February 12th. The company reported ($2.82) earnings per share for the quarter. The company had revenue of $0.90 million during the quarter. Intelligent Bio Solutions had a negative return on equity of 276.73% and a negative net margin of 330.00%. On average, equities analysts predict that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Institutional Trading of Intelligent Bio Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. increased its position in Intelligent Bio Solutions by 9.7% in the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock worth $687,000 after buying an additional 59,600 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Intelligent Bio Solutions in the third quarter worth about $435,000. Finally, Warberg Asset Management LLC acquired a new stake in Intelligent Bio Solutions in the third quarter worth about $46,000. 32.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Intelligent Bio Solutions to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.