Short Interest in Intelligent Bio Solutions Inc. (NASDAQ:INBS) Grows By 147.3%

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 90,000 shares, a growth of 147.3% from the May 31st total of 36,400 shares. Based on an average daily volume of 61,400 shares, the days-to-cover ratio is presently 1.5 days. Currently, 2.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Virtu Financial LLC acquired a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,537 shares of the company’s stock, valued at approximately $53,000. Virtu Financial LLC owned 0.40% of Intelligent Bio Solutions at the end of the most recent quarter. 32.97% of the stock is currently owned by institutional investors.

Intelligent Bio Solutions Trading Up 2.7 %

Intelligent Bio Solutions stock traded up $0.05 during mid-day trading on Friday, hitting $1.92. 87,347 shares of the stock were exchanged, compared to its average volume of 48,560. The stock has a market capitalization of $5.99 million, a price-to-earnings ratio of -0.05 and a beta of 4.75. Intelligent Bio Solutions has a 12 month low of $1.76 and a 12 month high of $39.48. The company has a quick ratio of 1.87, a current ratio of 2.02 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $2.29 and its two-hundred day simple moving average is $3.39.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its earnings results on Wednesday, May 8th. The company reported ($1.43) earnings per share for the quarter. The firm had revenue of $0.82 million for the quarter. Intelligent Bio Solutions had a negative return on equity of 210.36% and a negative net margin of 354.86%. Analysts forecast that Intelligent Bio Solutions will post -3.67 EPS for the current year.

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.