Wall Street Zen Downgrades Intelligent Bio Solutions (NASDAQ:INBS) to Sell

Intelligent Bio Solutions (NASDAQ:INBS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Intelligent Bio Solutions currently has an average rating of “Sell”.

Intelligent Bio Solutions Stock Performance

Shares of NASDAQ INBS opened at $1.08 on Friday. The firm has a market capitalization of $9.81 million, a P/E ratio of -0.53 and a beta of 4.49. Intelligent Bio Solutions has a one year low of $1.01 and a one year high of $2.75. The company’s fifty day moving average is $1.38 and its two-hundred day moving average is $1.48.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its earnings results on Friday, August 15th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.25). The company had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $4.30 million. Intelligent Bio Solutions had a negative return on equity of 231.13% and a negative net margin of 346.22%. On average, sell-side analysts forecast that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. Altium Capital Management LLC bought a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 149,252 shares of the company’s stock, valued at approximately $215,000. Intelligent Bio Solutions comprises approximately 0.5% of Altium Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Altium Capital Management LLC owned about 2.19% of Intelligent Bio Solutions as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 32.97% of the company’s stock.

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.