Intelligent Bio Solutions (NASDAQ:INBS) Issues Quarterly Earnings Results, Misses Estimates By $3.20 EPS

Intelligent Bio Solutions (NASDAQ:INBS) issued its quarterly earnings data on Wednesday. The company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($3.20), FiscalAI reports. The company had revenue of $1.06 million for the quarter, compared to the consensus estimate of $7.20 million. Intelligent Bio Solutions had a negative return on equity of 200.68% and a negative net margin of 315.33%.

Intelligent Bio Solutions Trading Up 25.5%

Intelligent Bio Solutions stock traded up $0.81 during mid-day trading on Wednesday, hitting $3.99. The stock had a trading volume of 581,052 shares, compared to its average volume of 490,894. The stock has a 50-day simple moving average of $3.13 and a two-hundred day simple moving average of $6.23. The stock has a market capitalization of $7.98 million, a PE ratio of -0.27 and a beta of 4.24. Intelligent Bio Solutions has a 12 month low of $2.27 and a 12 month high of $24.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on INBS shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. ADAR1 Capital Management LLC purchased a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 426,433 shares of the company’s stock, valued at approximately $435,000. ADAR1 Capital Management LLC owned about 4.70% of Intelligent Bio Solutions at the end of the most recent reporting period. Institutional investors own 32.97% of the company’s stock.

Intelligent Bio Solutions Company 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.