GBS (NYSE:GBS) Trading 1.7% Higher

GBS Inc. (NYSE:GBS – Get Rating) shares shot up 1.7% on Thursday . The stock traded as high as $0.60 and last traded at $0.59. 188,929 shares traded hands during trading, a decline of 89% from the average session volume of 1,663,927 shares. The stock had previously closed at $0.58.

The firm’s 50-day moving average is $0.66 and its two-hundred day moving average is $0.97.

GBS (NYSE:GBS – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $0.19 million for the quarter. As a group, research analysts forecast that GBS Inc. will post -0.63 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of GBS by 890.6% in the 3rd quarter. Geode Capital Management LLC now owns 108,353 shares of the company’s stock valued at $273,000 after buying an additional 97,415 shares during the period. Virtu Financial LLC purchased a new stake in shares of GBS in the 1st quarter valued at approximately $70,000. Renaissance Technologies LLC purchased a new position in shares of GBS during the 1st quarter worth approximately $53,000. Goldman Sachs Group Inc. purchased a new position in shares of GBS during the 1st quarter worth approximately $33,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of GBS during the 3rd quarter worth approximately $78,000. 1.63% of the stock is owned by institutional investors.

About GBS (NYSE:GBS)

GBS Inc operates as a biosensor diagnostic technology company. It offers Saliva Glucose Biosensor that uses saliva to measure glucose non-invasively. The company also focuses on developing COV2 test, a biosensor test can be used as a complement to the (RNA) virus detection test; and a biosensor platform comprising of biochemistry, immunology, tumour markers, hormones, and nucleic acid diagnostic modalities.

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