Tocqueville Asset Management L.P. Invests $2.92 Million in Intelligent Bio Solutions Inc. $INBS

Tocqueville Asset Management L.P. acquired a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBSFree Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 565,000 shares of the company’s stock, valued at approximately $2,915,000. Tocqueville Asset Management L.P. owned 0.24% of Intelligent Bio Solutions as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ADAR1 Capital Management LLC bought a new position in Intelligent Bio Solutions in the 3rd quarter worth about $435,000. Alyeska Investment Group L.P. increased its position in shares of Intelligent Bio Solutions by 9.7% during the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock valued at $687,000 after buying an additional 59,600 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Intelligent Bio Solutions during the second quarter valued at about $184,000. State of Wyoming purchased a new stake in shares of Intelligent Bio Solutions in the second quarter worth about $453,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Intelligent Bio Solutions in the second quarter worth about $9,655,000. 32.97% of the stock is currently owned by institutional investors.

Intelligent Bio Solutions Price Performance

Shares of INBS opened at $2.65 on Friday. Intelligent Bio Solutions Inc. has a 1-year low of $1.52 and a 1-year high of $24.90. The company has a market capitalization of $6.33 million, a P/E ratio of -0.29 and a beta of 4.21. The firm’s 50 day simple moving average is $2.19 and its 200 day simple moving average is $3.06.

Intelligent Bio Solutions (NASDAQ:INBSGet Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.68. The business had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $1.22 million. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 161.68%. On average, equities analysts anticipate that Intelligent Bio Solutions Inc. will post -5.18 earnings per share for the current year.

Analyst Ratings Changes

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

View Our Latest Report on Intelligent Bio Solutions

About Intelligent Bio Solutions

(Free Report)

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.

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Institutional Ownership by Quarter for Intelligent Bio Solutions (NASDAQ:INBS)

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