Intelligent Bio Solutions (NASDAQ:INBS) Trading Up 18.1% – What’s Next?

Shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) shot up 18.1% on Thursday . The stock traded as high as $3.08 and last traded at $3.00. Approximately 427,714 shares were traded during mid-day trading, an increase of 368% from the average daily volume of 91,487 shares. The stock had previously closed at $2.54.

Analyst Upgrades and Downgrades

INBS has been the topic of a number of research analyst reports. Wall Street Zen downgraded Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a report on Monday, June 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intelligent Bio Solutions presently has a consensus rating of “Reduce”.

Intelligent Bio Solutions Stock Performance

The firm has a market cap of $6.62 million, a P/E ratio of -0.23 and a beta of 4.21. The business’s 50-day simple moving average is $2.14 and its 200 day simple moving average is $3.26.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its 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). The company had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $7.20 million. Intelligent Bio Solutions had a negative net margin of 296.73% and a negative return on equity of 176.09%. As a group, equities research analysts expect that Intelligent Bio Solutions Inc. will post -3.42 EPS for the current year.

Institutional Trading of Intelligent Bio Solutions

A number of hedge funds have recently bought and sold shares of the company. Man Group plc purchased a new position in Intelligent Bio Solutions in the second quarter worth about $2,649,000. Jupiter Topco LLC purchased a new stake in shares of Intelligent Bio Solutions during the 2nd quarter valued at about $1,350,000. Hsbc Holdings PLC purchased a new stake in shares of Intelligent Bio Solutions during the 2nd quarter valued at about $106,000. Ancora Advisors LLC bought a new position in shares of Intelligent Bio Solutions in the 2nd quarter worth approximately $6,207,000. Finally, Palisade Capital Management LP bought a new position in shares of Intelligent Bio Solutions in the 2nd quarter worth approximately $8,988,000. Hedge funds and other institutional investors own 32.97% of the company’s stock.

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.