Intelligent Bio Solutions Inc. (NASDAQ:INBS) Sees Significant Increase in Short Interest

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 495,900 shares, a growth of 191.7% from the August 31st total of 170,000 shares. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 11.8% of the company’s stock are short sold.

Institutional Investors Weigh In On Intelligent Bio Solutions

An institutional investor recently bought a new position in Intelligent Bio Solutions stock. Virtu Financial LLC bought a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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. Hedge funds and other institutional investors own 32.97% of the company’s stock.

Intelligent Bio Solutions Stock Up 7.9 %

Shares of NASDAQ INBS traded up $0.14 during midday trading on Wednesday, hitting $1.91. The stock had a trading volume of 369,091 shares, compared to its average volume of 1,729,936. The company has a market cap of $5.95 million, a P/E ratio of -0.05 and a beta of 4.68. The business’s 50 day moving average is $1.47 and its 200-day moving average is $2.29. Intelligent Bio Solutions has a 52 week low of $1.00 and a 52 week high of $15.24.

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.