GBS (NYSE:GBS) Stock Price Down 6.6%

GBS Inc. (NYSE:GBSGet Rating)’s share price traded down 6.6% during mid-day trading on Thursday . The company traded as low as $0.39 and last traded at $0.39. 94,195 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,071,527 shares. The stock had previously closed at $0.42.

GBS Stock Performance

The firm’s 50 day moving average is $0.64 and its two-hundred day moving average is $0.69. The stock has a market capitalization of $5.84 million, a PE ratio of -0.70 and a beta of 1.07.

GBS (NYSE:GBSGet Rating) last announced its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. On average, analysts anticipate that GBS Inc. will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GBS. Renaissance Technologies LLC acquired a new position in shares of GBS in the 1st quarter valued at $53,000. Goldman Sachs Group Inc. acquired a new stake in GBS during the 1st quarter worth $33,000. Finally, Virtu Financial LLC acquired a new stake in GBS during the 1st quarter worth $70,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

About GBS

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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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