Take off with Intelligent Bio Solutions Inc. (INBS): Get ready for trading

Intelligent Bio Solutions Inc. (NASDAQ: INBS) stock jumped 293.13% on Monday to $1.03 against a previous-day closing price of $0.26. With 146.28 million shares changed hands, the volume of the stock remained heavier than its average volume of 54420.0 shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $1.6000 whereas the lowest price it dropped to was $0.9200. The 52-week range on INBS shows that it touched its highest point at $1.54 and its lowest point at $0.17 during that stretch. It currently has a 1-year price target of $1.60.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INBS was up-trending over the past week, with a rise of 268.25%, but this was up by 261.66% over a month. Three-month performance surged to 118.22% while six-month performance rose 41.37%. The stock lost -33.55% in the past year, while it has gained 415.26% so far this year. A look at the trailing 12-month EPS for INBS yields -0.54 with Next year EPS estimates of -0.15.

Float and Shares Shorts:

At present, 14.89 million INBS shares are outstanding with a float of 14.74 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.15 million, which was 1.02% higher than short shares on Sep 14, 2022. In addition to Dr. Stephen Constantine Boyages M.D., MBBS, Ph.D. as the firm’s Interim CEO & Chairman, Mr. Spiro Kevin Sakiris B.Bus, C.A., CA, Dip Law serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 2.79% of INBS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.44% of INBS, in contrast to 1.15% held by mutual funds. Shares owned by individuals account for 0.70%. As the largest shareholder in INBS with 0.63% of the stake, Geode Capital Management LLC holds 115,825 shares worth 115,825. A second-largest stockholder of INBS, Renaissance Technologies LLC, holds 107,000 shares, controlling over 0.58% of the firm’s shares. Citadel Securities LLC is the third largest shareholder in INBS, holding 34,574 shares or 0.19% stake. With a 0.61% stake in INBS, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 111,626 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.07% of INBS stock, is the second-largest Mutual Fund holder. It holds 11,850 shares valued at 2370.0. Vanguard Invt. Fds. ICVC – US Equ holds 0.03% of the stake in INBS, owning 5,066 shares worth 1013.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INBS since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INBS analysts setting a high price target of $1.60 and a low target of $1.60, the average target price over the next 12 months is $1.60. Based on these targets, INBS could surge 55.34% to reach the target high and rise by 55.34% to reach the target low. Reaching the average price target will result in a growth of 55.34% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INBS will report FY 2023 earnings on 08/31/2023. Analysts have provided yearly estimates in a range of -$0.33 being high and -$0.33 being low. For INBS, this leads to a yearly average estimate of -$0.33. The surprise factor in the prior quarter was -$0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.11.

Summary of Insider Activity:

Insiders traded INBS stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 310,970 while 1,100,000 shares were sold.

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