Taking on analysts’ expectations and winning: Intelligent Bio Solutions Inc (INBS)

Intelligent Bio Solutions Inc (NASDAQ: INBS) stock fell -12.83% on Friday to $0.45 against a previous-day closing price of $0.52. With 1.81 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.55 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $0.4870 whereas the lowest price it dropped to was $0.4250. The 52-week range on INBS shows that it touched its highest point at $32.00 and its lowest point at $0.20 during that stretch. It currently has a 1-year price target of $13.05. Beta for the stock currently stands at 4.98.

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 down-trending over the past week, with a drop of -21.51%, but this was up by 85.25% over a month. Three-month performance dropped to -74.10% while six-month performance fell -84.84%. The stock lost -94.33% in the past year, while it has lost -88.66% so far this year. A look at the trailing 12-month EPS for INBS yields -8.37 with Next year EPS estimates of -0.47. For the next quarter, that number is -0.27. This implies an EPS growth rate of 90.45% for this year and 53.47% for next year.

Float and Shares Shorts:

At present, 8.73 million INBS shares are outstanding with a float of 6.11 million shares on hand for trading. On Oct 30, 2023, short shares totaled 0.16 million, which was 3.47% higher than short shares on Sep 28, 2023. In addition to Mr. Harry Simeonidis as the firm’s President & CEO, Mr. Spiro Kevin Sakiris B.Bus, C.A., CA, Dip Law serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 9.71% of INBS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 2.96% of INBS, in contrast to 0.40% held by mutual funds. Shares owned by individuals account for 0.11%. As the largest shareholder in INBS with 0.27% of the stake, Geode Capital Management LLC holds 12,410 shares worth 12,410. A second-largest stockholder of INBS, Tower Research Capital LLC, holds 5,946 shares, controlling over 0.13% of the firm’s shares. ORG Partners LLC is the third largest shareholder in INBS, holding 5,000 shares or 0.11% stake. With a 0.27% stake in INBS, the Fidelity Extended Market Index Fu is the largest stakeholder. A total of 12,274 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.13% of INBS stock, is the second-largest Mutual Fund holder. It holds 5,798 shares valued at 1252.0. Vanguard Invt. Fds. ICVC – US Equ holds 0.01% of the stake in INBS, owning 253 shares worth 55.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INBS since 0 analysts follow the stock currently. 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 $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, INBS could surge 1233.33% to reach the target high and rise by 1233.33% to reach the target low. Reaching the average price target will result in a growth of 1233.33% from current levels.

Summary of Insider Activity:

Insiders traded INBS stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 150 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,549 while 0 shares were sold.