Intelligent Bio Solutions Inc. (NASDAQ:INBS) Shares Shorted: Short Interest Up 255.0% in September

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 119,549 shares, an increase of 255.0% from the August 31st total of 33,673 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average trading volume of 542,875 shares, the days-to-cover ratio is currently 0.2 days.

Intelligent Bio Solutions Stock Performance

INBS stock traded down $0.01 during midday trading on Friday, hitting $1.70. 25,648 shares of the company’s stock were exchanged, compared to its average volume of 303,270. The stock’s fifty day moving average price is $2.14 and its 200-day moving average price is $2.54. The company has a market cap of $5.64 million, a PE ratio of -0.19 and a beta of 4.25. Intelligent Bio Solutions has a one year low of $1.52 and a one year high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.58) by $0.68. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.The company had revenue of $1.15 million during the quarter, compared to the consensus estimate of $1.22 million. On average, analysts expect that Intelligent Bio Solutions will post -5.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Zacks Research raised shares of Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc is a life sciences company focused on non-invasive diagnostic and drug-screening technologies. Its primary product is the Intelligent Fingerprinting Drug Screening System, which analyzes sweat collected from a fingerprint to identify drug metabolites.

The system is designed to provide rapid, portable testing without blood or urine collection. It is intended for use by organizations such as employers, law enforcement agencies, drug-treatment providers, and other institutions that require convenient drug screening and monitoring.

The company’s technology originated with Intelligent Fingerprinting, a United Kingdom-based developer that was acquired by Intelligent Bio Solutions.