Intelligent Bio Solutions Inc. (NASDAQ:INBS) Stock Short Interest Report for September

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 58,294 shares, a decrease of 51.2% from the September 15th total of 119,549 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 41,999 shares, the short-interest ratio is currently 1.4 days.

Intelligent Bio Solutions Price Performance

Shares of INBS traded down $0.01 during mid-day trading on Thursday, reaching $1.44. The company’s stock had a trading volume of 50,554 shares, compared to its average volume of 295,693. The stock has a market cap of $4.78 million, a PE ratio of -0.16 and a beta of 4.31. Intelligent Bio Solutions has a 12-month low of $1.35 and a 12-month high of $24.90. The company’s 50 day moving average is $2.09 and its 200 day moving average is $2.33.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INBS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc is a life sciences company developing rapid, non-invasive drug-screening technologies. Its primary product is the Intelligent Fingerprinting Drug Screening System, which analyzes sweat collected from a person’s fingerprint to identify the presence of commonly used drugs.

The system combines a disposable drug-screening cartridge with a portable reader and associated software. By using fingerprint sweat rather than blood or urine, the company aims to provide a convenient testing option for organizations such as employers, law-enforcement agencies, drug-treatment providers and other healthcare or public-sector users.

Intelligent Bio Solutions has roots in the development of diagnostic technologies and was formerly known as GBS Inc The company markets its fingerprint-based screening products internationally, including in the United Kingdom and other markets, subject to applicable regulatory and commercial requirements.