What's Going On With Intelligent Bio Solutions Stock?
Portfolio Pulse from Erica Kollmann
Intelligent Bio Solutions Inc. (NASDAQ:INBS) reported Q1 losses of $1.04 per share, missing the analyst consensus estimate of 64 cents by 62.5%. The company also reported quarterly sales of $109.87 thousand, missing the consensus estimate of $950 thousand by 88.43% and representing a 64.71% decrease over sales of $311.32 thousand from the same period last year. Despite this, shares of INBS are up 145% at 56 cents.
November 09, 2023 | 5:46 pm
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Intelligent Bio Solutions Inc. reported Q1 losses and missed sales estimates. Despite this, shares are up 145% at 56 cents.
Despite reporting losses and missing sales estimates for Q1, shares of Intelligent Bio Solutions Inc. are up significantly. This could be due to the company's comments on strong revenue growth and the increasing acceptance of their proprietary Intelligent Fingerprinting Drug Screening System. The high trading volume could also be contributing to the stock's rise.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100