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

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 33,673 shares, a decline of 68.0% from the August 15th total of 105,073 shares. Based on an average trading volume of 90,645 shares, the short-interest ratio is currently 0.4 days. Approximately 1.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INBS. Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce”.

Intelligent Bio Solutions Trading Down 2.8%

INBS stock traded down $0.06 during trading on Monday, hitting $2.07. 25,627 shares of the company’s stock were exchanged, compared to its average volume of 333,033. The business has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $2.67. The stock has a market capitalization of $6.27 million, a price-to-earnings ratio of -0.23 and a beta of 4.25. Intelligent Bio Solutions has a 52-week low of $1.52 and a 52-week high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.58) by $0.68. The company had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.22 million. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 175.35%. On average, equities research analysts anticipate that Intelligent Bio Solutions will post -5.18 earnings per share for the current fiscal year.

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.