Intelligent Bio Solutions (NASDAQ:INBS) Upgraded by Wall Street Zen to Hold Rating

Intelligent Bio Solutions (NASDAQ:INBS) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Intelligent Bio Solutions Price Performance

INBS opened at $1.79 on Friday. The firm has a market capitalization of $16.07 million, a price-to-earnings ratio of -0.87 and a beta of 4.59. The company’s 50 day simple moving average is $1.66 and its two-hundred day simple moving average is $1.62. Intelligent Bio Solutions has a 1-year low of $1.10 and a 1-year high of $2.75.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results on Friday, August 15th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.25). The company had revenue of $0.84 million during the quarter, compared to analyst estimates of $4.30 million. Intelligent Bio Solutions had a negative net margin of 346.22% and a negative return on equity of 231.13%. On average, equities analysts anticipate that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intelligent Bio Solutions

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. purchased a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 613,892 shares of the company’s stock, valued at approximately $884,000. Alyeska Investment Group L.P. owned 8.88% of Intelligent Bio Solutions at the end of the most recent reporting period. Institutional investors and hedge funds own 32.97% of the company’s stock.

About Intelligent Bio Solutions

Intelligent Bio Solutions Inc, a medical technology company, developing non-invasive, real-time monitoring, and diagnostic tests for patients and their primary health practitioners. It offers saliva glucose biosensor for diabetes management that measures glucose in saliva. The company also provides intelligent fingerprinting drug screening system, a revolutionizing portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields; and biosensor platform for biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.