Intelligent Bio Solutions (NASDAQ:INBS) Stock Rating Upgraded by Zacks Research

Intelligent Bio Solutions (NASDAQ:INBS) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. Wall Street Zen downgraded Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Intelligent Bio Solutions Stock Up 3.6%

Intelligent Bio Solutions stock opened at $2.30 on Monday. The company’s fifty day simple moving average is $2.61 and its 200-day simple moving average is $4.95. Intelligent Bio Solutions has a 12 month low of $2.08 and a 12 month high of $24.90. The stock has a market cap of $5.50 million, a P/E ratio of -0.19 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($3.20). Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%.The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $7.20 million. On average, equities research analysts expect that Intelligent Bio Solutions will post -3.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC acquired a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned about 4.70% of Intelligent Bio Solutions at the end of the most recent quarter. 32.97% of the stock is currently owned by institutional investors and hedge funds.

Intelligent Bio Solutions Company Profile

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.