Intelligent Bio Solutions (NASDAQ:INBS) Stock Rating Upgraded by Zacks Research

Intelligent Bio Solutions (NASDAQ:INBS) was upgraded by investment analysts at Zacks Research to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

INBS has been the subject of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Tuesday, April 21st. Wall Street Zen cut Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Intelligent Bio Solutions has a consensus rating of “Reduce”.

Intelligent Bio Solutions Stock Performance

Shares of INBS stock opened at $2.30 on Monday. The firm has a market capitalization of $5.50 million, a PE ratio of -0.19 and a beta of 4.21. Intelligent Bio Solutions has a 1 year low of $2.08 and a 1 year high of $24.90. The stock has a fifty day moving average of $2.61 and a two-hundred day moving average of $4.95.

Intelligent Bio Solutions (NASDAQ:INBS) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of $1.40 by ($3.20). The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $7.20 million. Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%. Equities research analysts predict that Intelligent Bio Solutions will post -3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intelligent Bio Solutions

An institutional investor recently raised its stake in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. grew its position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 673,492 shares of the company’s stock after purchasing an additional 59,600 shares during the period. Alyeska Investment Group L.P. owned about 7.12% of Intelligent Bio Solutions worth $687,000 at the end of the most recent quarter. 32.97% of the stock is currently owned by institutional investors.

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.