Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Up 13.9% in October

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 420,600 shares, a growth of 13.9% from the October 15th total of 369,400 shares. Based on an average daily volume of 1,740,000 shares, the short-interest ratio is presently 0.2 days. Currently, 9.8% of the shares of the stock are sold short.

Intelligent Bio Solutions Price Performance

Shares of INBS traded up $0.03 during mid-day trading on Monday, hitting $1.51. 17,270 shares of the company traded hands, compared to its average volume of 1,455,954. Intelligent Bio Solutions has a one year low of $1.00 and a one year high of $11.70. The business has a 50-day moving average of $1.68 and a 200 day moving average of $1.75.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.17). Intelligent Bio Solutions had a negative net margin of 1.19% and a negative return on equity of 147.50%. The business had revenue of $872.29 million during the quarter. Sell-side analysts anticipate that Intelligent Bio Solutions will post -1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intelligent Bio Solutions

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. Virtu Financial LLC purchased a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 12,537 shares of the company’s stock, valued at approximately $53,000. Virtu Financial LLC owned about 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 and hedge funds.

About Intelligent Bio Solutions

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.