Short Interest in Intelligent Bio Solutions Inc. (NASDAQ:INBS) Rises By 181.7%

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 94,421 shares, an increase of 181.7% from the February 12th total of 33,513 shares. Approximately 6.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 129,484 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 129,484 shares, the short-interest ratio is currently 0.7 days. Approximately 6.0% of the shares of the stock are short sold.

Intelligent Bio Solutions Stock Performance

Shares of NASDAQ:INBS traded down $0.02 during midday trading on Friday, reaching $4.00. The company had a trading volume of 53,512 shares, compared to its average volume of 119,429. The company has a fifty day simple moving average of $7.84 and a two-hundred day simple moving average of $9.26. The firm has a market cap of $6.40 million, a price-to-earnings ratio of -0.27 and a beta of 4.58. Intelligent Bio Solutions has a 1-year low of $3.70 and a 1-year high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($2.82) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($3.22). Intelligent Bio Solutions had a negative return on equity of 200.68% and a negative net margin of 315.33%.The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $5.50 million. Analysts expect that Intelligent Bio Solutions will post -1.25 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Intelligent Bio Solutions

A number of hedge funds have recently modified their holdings of INBS. Warberg Asset Management LLC acquired a new position in shares of Intelligent Bio Solutions in the third quarter worth $46,000. ADAR1 Capital Management LLC purchased a new position in Intelligent Bio Solutions in the third quarter valued at about $435,000. Finally, Alyeska Investment Group L.P. grew its stake 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 valued at $687,000 after purchasing an additional 59,600 shares in the last quarter. 32.97% of the stock is owned by institutional investors and hedge funds.

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.