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Intelligent Bio Solutions Inc.’s Stock Price Plummeted Recently, But There Might Be Trouble Ahead

Intelligent Bio Solutions Inc. (NASDAQ:INBS) traded at $1.03 at close of the session on Monday, 01/23/23, made an upward move of 293.13% on its previous day’s price.

Looking at the stock we see that its previous close was $0.26 with the day’s price range being $0.92 – $1.60. In terms of its 52-week price range, INBS has a high of $1.54 and a low of $0.17. The company’s stock has gained about 261.66% over that past 30 days.

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Intelligent Bio Solutions Inc. has a market cap of $18.09 million. Estimates by analysts give the company expected earnings per share (EPS) of $0, with the EPS growth for the year raised at -$0.31 for 2023 and -$0.09 for next year. These figures represent 45.60% and 71.00% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the INBS stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Buy.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Intelligent Bio Solutions Inc. (INBS) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 317.10% off its SMA20 and 221.54% from its 50-day simple moving average. The RSI (14) is pointing at 89.55 while the volatility over the past week is 24.29% and jumps to 19.18% over the past one month. The average price target for the stock over the next 12 months is $1.60, with the estimates having a low of $1.60 and a high of $1.60. These price ends are -55.34% and -55.34% off the current price level respectively, although investors could be excited at the prospect of a -55.34% if the INBS share price touches on the median price of $1.60.

Coming back to Intelligent Bio Solutions Inc. (NASDAQ:INBS), we note that the average 3-month trading volume was 54.42K, while that of the preceding 10-day period stands at 52010.0. Current shares outstanding are 14.89 million.

The insiders hold 1.90% of the company’s shares while institutions hold 1.90%. The data shows that short shares as of Oct 13, 2022, stood at 0.15 million at a short ratio of 1.84. This represents a 1.02% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 0.11 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 415.26% up in year-to-date price movement.

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