Wall Street Zen Upgrades Intelligent Bio Solutions (NASDAQ:INBS) to Hold

Intelligent Bio Solutions (NASDAQ:INBS) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Intelligent Bio Solutions Price Performance

Shares of INBS stock opened at $1.79 on Friday. Intelligent Bio Solutions has a 1-year low of $1.10 and a 1-year high of $2.75. The firm has a market cap of $16.07 million, a PE ratio of -0.87 and a beta of 4.59. The company has a 50-day moving average of $1.66 and a two-hundred day moving average of $1.62.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its quarterly earnings data on Friday, August 15th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.25). The company had revenue of $0.84 million during the quarter, compared to analyst estimates of $4.30 million. Intelligent Bio Solutions had a negative return on equity of 231.13% and a negative net margin of 346.22%. Sell-side analysts anticipate that Intelligent Bio Solutions will post -1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Intelligent Bio Solutions

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. Altium Capital Management LLC bought a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 149,252 shares of the company’s stock, valued at approximately $215,000. Intelligent Bio Solutions accounts for 0.5% of Altium Capital Management LLC’s portfolio, making the stock its 17th biggest position. Altium Capital Management LLC owned 2.19% of Intelligent Bio Solutions at the end of the most recent quarter. Institutional investors own 32.97% of the company’s stock.

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.