Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Up 107.3% in March

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 91,000 shares, an increase of 107.3% from the February 29th total of 43,900 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,150,000 shares, the days-to-cover ratio is currently 0.0 days.

Intelligent Bio Solutions Trading Down 5.2 %

Shares of INBS traded down $0.23 during mid-day trading on Thursday, reaching $4.22. The company’s stock had a trading volume of 44,802 shares, compared to its average volume of 3,351,177. The stock has a market cap of $11.98 million, a PE ratio of -0.04 and a beta of 4.88. The company’s fifty day moving average price is $4.24 and its two-hundred day moving average price is $5.25. Intelligent Bio Solutions has a 52 week low of $2.28 and a 52 week high of $49.20. The company has a current ratio of 0.57, a quick ratio of 0.39 and a debt-to-equity ratio of 0.07.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings results on Friday, February 9th. The company reported ($2.07) EPS for the quarter, beating analysts’ consensus estimates of ($3.24) by $1.17. The company had revenue of $0.76 million during the quarter. Intelligent Bio Solutions had a negative net margin of 544.63% and a negative return on equity of 266.16%. On average, analysts predict that Intelligent Bio Solutions will post -3.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intelligent Bio Solutions

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Sabby Management LLC acquired a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 126,650 shares of the company’s stock, valued at approximately $367,000. Intelligent Bio Solutions makes up 0.3% of Sabby Management LLC’s investment portfolio, making the stock its 26th biggest position. Sabby Management LLC owned about 8.52% of Intelligent Bio Solutions at the end of the most recent quarter. 32.97% of the stock is currently owned by hedge funds and other institutional investors.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions Inc, a medical technology company, developing non-invasive, real-time monitoring, and diagnostic tests for patients and their primary health practitioners. It offers saliva glucose biosensor for diabetes management that measures glucose in saliva. The company also provides intelligent fingerprinting drug screening system, a revolutionizing portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields; and biosensor platform for biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.