Short Interest in Intelligent Bio Solutions Inc. (NASDAQ:INBS) Increases By 187.3%

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 369,460 shares, a growth of 187.3% from the December 31st total of 128,608 shares. Based on an average trading volume of 3,407,692 shares, the short-interest ratio is presently 0.1 days. Approximately 30.8% of the shares of the company are short sold. Approximately 30.8% of the shares of the company are short sold. Based on an average trading volume of 3,407,692 shares, the short-interest ratio is presently 0.1 days.

Intelligent Bio Solutions Price Performance

Intelligent Bio Solutions stock opened at $8.69 on Friday. The firm has a market capitalization of $10.60 million, a P/E ratio of -0.51 and a beta of 4.45. Intelligent Bio Solutions has a one year low of $4.03 and a one year high of $27.50. The business has a fifty day moving average price of $8.77 and a 200-day moving average price of $11.70.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($2.00). The company had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $4.80 million. Intelligent Bio Solutions had a negative return on equity of 276.73% and a negative net margin of 330.00%. Sell-side analysts expect that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Thursday, January 22nd. Wall Street Zen raised Intelligent Bio Solutions to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Intelligent Bio Solutions

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

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.