Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Up 181.7% in February

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 94,421 shares, a growth of 181.7% from the February 12th total of 33,513 shares. Approximately 6.0% of the shares of the company are sold short. Based on an average daily volume of 129,484 shares, the short-interest ratio is presently 0.7 days. Based on an average daily volume of 129,484 shares, the short-interest ratio is presently 0.7 days. Approximately 6.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Intelligent Bio Solutions

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

Intelligent Bio Solutions Price Performance

Shares of INBS traded down $0.01 during midday trading on Wednesday, reaching $4.08. The stock had a trading volume of 23,234 shares, compared to its average volume of 839,801. The company has a market capitalization of $6.53 million, a P/E ratio of -0.28 and a beta of 4.58. The firm’s 50 day moving average price is $8.14 and its 200-day moving average price is $9.41. Intelligent Bio Solutions has a 52 week low of $3.70 and a 52 week high of $24.90.

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

Analyst Ratings Changes

Several research firms recently weighed in on INBS. Wall Street Zen raised shares of Intelligent Bio Solutions to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Intelligent Bio Solutions has a consensus rating of “Sell”.

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.