Intelligent Bio Solutions (NASDAQ:INBS) Issues Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Intelligent Bio Solutions (NASDAQ:INBS) announced its earnings results on Tuesday. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($1.31) by $0.45, Zacks reports. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.

Intelligent Bio Solutions Stock Performance

NASDAQ INBS traded down $0.06 on Tuesday, reaching $2.23. The company’s stock had a trading volume of 34,661 shares, compared to its average volume of 273,698. Intelligent Bio Solutions has a twelve month low of $1.35 and a twelve month high of $24.90. The firm’s 50 day moving average is $1.82 and its two-hundred day moving average is $2.94. The stock has a market cap of $7.42 million, a PE ratio of -0.25 and a beta of 4.48.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc (NASDAQ: INBS) is a life sciences company focused on developing and commercializing non-invasive diagnostic and screening technologies. Its primary product is the Intelligent Bio Solutions Drug Screening System, a portable platform designed to detect drugs of abuse through sweat collected from a person’s fingerprint.

The system uses a disposable drug screening cartridge and a handheld reader to analyze fingerprint sweat and provide results rapidly. The company markets the technology for applications such as workplace testing, law enforcement, rehabilitation programs, and other settings that require convenient, observed drug screening.

Intelligent Bio Solutions was formerly known as GBS Inc and adopted its current name following its acquisition and integration of Intelligent Fingerprinting, a United Kingdom-based developer of fingerprint-based drug screening technology.