Intelligent Bio Solutions (NASDAQ:INBS) Releases Quarterly Earnings Results, Misses Estimates By $3.22 EPS

by · The Markets Daily

Intelligent Bio Solutions (NASDAQ:INBS – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($2.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($3.22), FiscalAI reports. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $5.50 million. Intelligent Bio Solutions had a negative return on equity of 297.05% and a negative net margin of 315.33%.

Intelligent Bio Solutions Price Performance

Shares of Intelligent Bio Solutions stock opened at $5.02 on Friday. Intelligent Bio Solutions has a 1 year low of $4.03 and a 1 year high of $27.50. The firm’s 50-day moving average is $8.63 and its 200 day moving average is $10.75. The stock has a market cap of $6.12 million, a price-to-earnings ratio of -0.34 and a beta of 4.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INBS. Alyeska Investment Group L.P. increased its position in shares of Intelligent Bio Solutions by 9.7% during the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock valued at $687,000 after acquiring an additional 59,600 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Intelligent Bio Solutions in the 3rd quarter worth $435,000. Finally, Warberg Asset Management LLC purchased a new stake in shares of Intelligent Bio Solutions during the third quarter valued at $46,000. Institutional investors own 32.97% of the company’s stock.

Analysts Set New Price Targets

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

Check Out Our Latest Report on INBS

Intelligent Bio Solutions Company Profile

(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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