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

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

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Intelligent Bio Solutions Trading Down 3.5%

Shares of INBS opened at $2.46 on Friday. The stock’s 50-day moving average price is $4.20 and its two-hundred day moving average price is $7.48. Intelligent Bio Solutions has a 12 month low of $2.46 and a 12 month high of $24.90. The company has a market capitalization of $4.92 million, a PE ratio of -0.17 and a beta of 4.59.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Thursday, February 12th. The company reported ($2.82) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($3.22). Intelligent Bio Solutions had a negative net margin of 315.33% and a negative return on equity of 200.68%. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $5.50 million. Equities research analysts predict that Intelligent Bio Solutions will post -1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in INBS. ADAR1 Capital Management LLC acquired a new position in shares of Intelligent Bio Solutions in the 3rd quarter valued at about $435,000. Alyeska Investment Group L.P. lifted its stake in shares of Intelligent Bio Solutions by 9.7% in 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 during the period. Finally, Warberg Asset Management LLC acquired a new position in shares of Intelligent Bio Solutions in the 3rd quarter valued at about $46,000. 32.97% of the stock is owned by institutional investors and hedge funds.

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.