Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Update

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 369,460 shares, an increase of 187.3% from the December 31st total of 128,608 shares. Based on an average daily trading volume, of 3,407,692 shares, the days-to-cover ratio is presently 0.1 days. Approximately 30.8% of the shares of the stock are short sold. Approximately 30.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,407,692 shares, the days-to-cover ratio is presently 0.1 days.

Intelligent Bio Solutions Stock Down 3.4%

Intelligent Bio Solutions stock opened at $8.69 on Friday. The firm has a market capitalization of $10.60 million, a PE ratio of -0.51 and a beta of 4.45. Intelligent Bio Solutions has a 52 week low of $4.03 and a 52 week high of $27.50. The firm’s 50-day simple moving average is $8.77 and its 200 day simple moving average is $11.70.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its earnings results on Wednesday, November 12th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($1.50) by ($2.00). Intelligent Bio Solutions had a negative net margin of 330.00% and a negative return on equity of 276.73%. The business had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $4.80 million. On average, research analysts expect that Intelligent Bio Solutions will post -1.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Intelligent Bio Solutions

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

Analysts Set New Price Targets

A number of research firms have commented on INBS. Wall Street Zen raised Intelligent Bio Solutions to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

About Intelligent Bio Solutions

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.