Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Update

by · The Cerbat Gem

Intelligent Bio Solutions Inc. (NASDAQ:INBS – Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 149,005 shares, a growth of 172.7% from the April 30th total of 54,635 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily volume of 247,781 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Warberg Asset Management LLC bought a new position in shares of Intelligent Bio Solutions in the third quarter valued at $46,000. ADAR1 Capital Management LLC bought a new position in shares of Intelligent Bio Solutions in the third quarter valued at $435,000. Finally, Alyeska Investment Group L.P. increased its holdings in shares of 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 valued at $687,000 after buying an additional 59,600 shares in the last quarter. Institutional investors own 32.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INBS shares. Weiss Ratings restated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Tuesday, April 21st. Wall Street Zen downgraded Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Get Our Latest Stock Report on INBS

Intelligent Bio Solutions Price Performance

Shares of NASDAQ INBS traded up $0.05 during trading on Friday, hitting $2.57. The company had a trading volume of 49,072 shares, compared to its average volume of 186,278. Intelligent Bio Solutions has a 52 week low of $2.27 and a 52 week high of $24.90. The business’s 50-day moving average is $2.88 and its 200 day moving average is $5.69.

Intelligent Bio Solutions (NASDAQ:INBS – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($3.20). The company had revenue of $1.06 million during the quarter, compared to the consensus estimate of $7.20 million. Intelligent Bio Solutions had a negative net margin of 296.73% and a negative return on equity of 176.09%.

About Intelligent Bio Solutions

(Get Free Report)

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.

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