Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Up 24.3% in October

Intelligent Bio Solutions Inc. (NASDAQ:INBS) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 369,400 shares, a growth of 24.3% from the September 30th total of 297,300 shares. Currently, 8.9% of the company’s shares are sold short. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is presently 0.2 days.

Intelligent Bio Solutions Stock Performance

Intelligent Bio Solutions stock traded down $0.04 during trading on Wednesday, hitting $1.48. The company’s stock had a trading volume of 61,978 shares, compared to its average volume of 1,535,625. The stock has a market capitalization of $4.61 million, a price-to-earnings ratio of -0.04 and a beta of 4.70. The stock’s fifty day moving average is $1.61 and its 200 day moving average is $1.86. Intelligent Bio Solutions has a 1-year low of $1.00 and a 1-year high of $11.70.

Institutional Investors Weigh In On Intelligent Bio Solutions

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. CVI Holdings LLC purchased a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 108,250 shares of the company’s stock, valued at approximately $457,000. Intelligent Bio Solutions accounts for 0.4% of CVI Holdings LLC’s portfolio, making the stock its 27th largest holding. CVI Holdings LLC owned approximately 3.81% of Intelligent Bio Solutions at the end of the most recent reporting period. 32.97% of the stock is owned by hedge funds and other institutional investors.

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.