Intelligent Bio Solutions (NASDAQ:INBS) Issues Quarterly Earnings Results

Intelligent Bio Solutions (NASDAQ:INBS) released its quarterly earnings results on Wednesday. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $0.68, FiscalAI reports. The business had revenue of $1.15 million for the quarter, compared to the consensus estimate of $1.22 million. Intelligent Bio Solutions had a negative net margin of 296.73% and a negative return on equity of 176.09%.

Intelligent Bio Solutions Trading Down 17.1%

NASDAQ INBS opened at $2.67 on Thursday. Intelligent Bio Solutions has a 12 month low of $1.52 and a 12 month high of $24.90. The stock has a market cap of $6.38 million, a price-to-earnings ratio of -0.22 and a beta of 4.21. The company’s 50 day moving average is $2.19 and its two-hundred day moving average is $3.10.

Institutional Trading of Intelligent Bio Solutions

An institutional investor recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC bought a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned approximately 4.70% of Intelligent Bio Solutions as of its most recent filing with the Securities and Exchange Commission. 32.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INBS shares. Wall Street Zen lowered Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Friday, July 17th. Finally, Zacks Research raised Intelligent Bio Solutions to a “hold” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.