Man Group plc Makes New $2.65 Million Investment in Intelligent Bio Solutions Inc. $INBS

Man Group plc purchased a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 2nd quarter, Holdings Channel reports. The firm purchased 513,292 shares of the company’s stock, valued at approximately $2,649,000. Man Group plc owned approximately 0.21% of Intelligent Bio Solutions as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Group One Trading LLC bought a new stake in Intelligent Bio Solutions during the 2nd quarter worth $31,000. Global Retirement Partners LLC acquired a new position in Intelligent Bio Solutions in the 2nd quarter worth about $34,000. Allworth Financial LP bought a new position in Intelligent Bio Solutions in the second quarter valued at about $43,000. Callan Family Office LLC bought a new position in Intelligent Bio Solutions in the second quarter valued at about $57,000. Finally, Meeder Advisory Services Inc. acquired a new stake in shares of Intelligent Bio Solutions during the second quarter valued at about $64,000. 32.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INBS has been the topic of several research reports. Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Intelligent Bio Solutions has a consensus rating of “Reduce”.

Intelligent Bio Solutions Price Performance

Shares of INBS stock opened at $2.40 on Tuesday. The business’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.85. Intelligent Bio Solutions Inc. has a one year low of $1.52 and a one year high of $24.90. The stock has a market capitalization of $7.27 million, a PE ratio of -0.27 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.58) by $0.68. The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $1.22 million. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 175.35%. As a group, research analysts expect that Intelligent Bio Solutions Inc. will post -5.18 earnings per share for the current year.

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.