Short Interest in Intelligent Bio Solutions Inc. (NASDAQ:INBS) Decreases By 52.2%

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 49,375 shares, a decline of 52.2% from the July 15th total of 103,339 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 101,425 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Intelligent Bio Solutions during the second quarter worth $149,956,000. Edmond DE Rothschild Holding S.A. bought a new stake in Intelligent Bio Solutions in the second quarter valued at about $118,307,000. Bank of America Corp DE acquired a new position in Intelligent Bio Solutions in the second quarter worth about $58,793,000. Deutsche Bank AG acquired a new position in Intelligent Bio Solutions in the second quarter worth about $39,843,000. Finally, Bank of New York Mellon Corp bought a new position in Intelligent Bio Solutions during the second quarter worth about $9,655,000. 32.97% of the stock is currently owned by institutional investors and hedge funds.

Intelligent Bio Solutions Trading Down 8.4%

INBS stock traded down $0.28 during trading on Tuesday, reaching $3.09. 42,120 shares of the stock were exchanged, compared to its average volume of 324,530. Intelligent Bio Solutions has a twelve month low of $1.52 and a twelve month high of $24.90. The company has a market capitalization of $7.38 million, a P/E ratio of -0.25 and a beta of 4.21. The stock has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $3.18.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INBS shares. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Intelligent Bio Solutions Company Profile

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.