Intelligent Bio Solutions (NASDAQ:INBS – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of $1.40 by ($3.20), FiscalAI reports. Intelligent Bio Solutions had a negative net margin of 315.33% and a negative return on equity of 200.68%. The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $7.20 million.
Intelligent Bio Solutions Stock Performance
NASDAQ INBS traded up $0.81 during trading hours on Wednesday, reaching $3.99. 581,052 shares of the company’s stock were exchanged, compared to its average volume of 490,894. The company’s 50-day moving average is $3.13 and its two-hundred day moving average is $6.23. Intelligent Bio Solutions has a one year low of $2.27 and a one year high of $24.90. The company has a market capitalization of $7.98 million, a price-to-earnings ratio of -0.27 and a beta of 4.24.
Analyst Upgrades and Downgrades
INBS has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Tuesday, April 21st. Wall Street Zen lowered Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Intelligent Bio Solutions presently has a consensus rating of “Sell”.
Institutional Trading of Intelligent Bio Solutions
A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC acquired a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned 4.70% of Intelligent Bio Solutions at the end of the most recent reporting period. 32.97% of the stock is currently owned by institutional investors and hedge funds.
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.
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