Short Interest in Intelligent Bio Solutions Inc. (NASDAQ:INBS) Decreases By 74.6%

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 33,513 shares, a decline of 74.6% from the January 29th total of 131,837 shares. Based on an average daily trading volume, of 90,292 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.1% of the company’s stock are sold short. Currently, 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 90,292 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Intelligent Bio Solutions

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

Wall Street Analyst Weigh In

A number of analysts recently commented on INBS shares. Wall Street Zen upgraded shares of Intelligent Bio Solutions to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed 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, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Intelligent Bio Solutions Trading Up 0.1%

Intelligent Bio Solutions stock opened at $3.97 on Thursday. The stock has a market cap of $6.34 million, a P/E ratio of -0.27 and a beta of 4.48. The company has a 50-day moving average price of $8.33 and a 200 day moving average price of $10.11. Intelligent Bio Solutions has a 12-month low of $3.70 and a 12-month high of $25.00.

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

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.