Tocqueville Asset Management L.P. Takes Position in Intelligent Bio Solutions Inc. $INBS

Tocqueville Asset Management L.P. bought a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 565,000 shares of the company’s stock, valued at approximately $2,915,000. Tocqueville Asset Management L.P. owned approximately 23.62% of Intelligent Bio Solutions at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Intelligent Bio Solutions in the 2nd quarter valued at about $149,956,000. Deutsche Bank AG bought a new stake in Intelligent Bio Solutions during the 2nd quarter worth approximately $39,843,000. Bank of New York Mellon Corp bought a new stake in Intelligent Bio Solutions during the 2nd quarter worth approximately $9,655,000. Summit Creek Advisors LLC purchased a new stake in shares of Intelligent Bio Solutions in the second quarter worth approximately $4,595,000. Finally, Rockbridge Asset Management LLC purchased a new stake in shares of Intelligent Bio Solutions in the second quarter worth approximately $3,496,000. Institutional investors and hedge funds own 32.97% of the company’s stock.

Analyst Ratings Changes

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

Intelligent Bio Solutions Stock Down 0.7%

Intelligent Bio Solutions stock opened at $2.65 on Friday. The firm has a 50 day moving average price of $2.19 and a 200-day moving average price of $3.06. Intelligent Bio Solutions Inc. has a twelve month low of $1.52 and a twelve month 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.

Intelligent Bio Solutions (NASDAQ:INBS) last posted 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. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 161.68%. The company had revenue of $1.15 million for the quarter, compared to analysts’ expectations of $1.22 million. Equities analysts expect that Intelligent Bio Solutions Inc. will post -5.18 EPS for the current fiscal year.

Intelligent Bio Solutions Profile

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.