GBS (NYSE:GBS) Shares Down 9.3%

GBS Inc. (NYSE:GBS) traded down 9.3% during mid-day trading on Friday . The stock traded as low as $3.00 and last traded at $3.04. 134,642 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 955,325 shares. The stock had previously closed at $3.35.

GBS Stock Down 9.3 %

The company’s 50-day moving average price is $4.34 and its 200-day moving average price is $1.83. The firm has a market cap of $45.27 million, a price-to-earnings ratio of -5.43 and a beta of 1.32.

Institutional Trading of GBS

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in shares of GBS by 65.8% in the second quarter. Renaissance Technologies LLC now owns 111,900 shares of the company’s stock valued at $74,000 after purchasing an additional 44,400 shares during the period. Virtu Financial LLC acquired a new stake in shares of GBS in the first quarter valued at about $70,000. Finally, Goldman Sachs Group Inc. acquired a new position in GBS during the first quarter worth about $33,000. Institutional investors and hedge funds own 2.79% of the company’s stock.

GBS Company Profile

GBS Inc operates as a biosensor diagnostic technology company in the Asia-Pacific and North America. It offers Saliva Glucose Biosensor, an organic thin-film transistor for diabetes management that measures glucose in saliva. The company also focuses on developing SARS-CoV-2 Biosensor, a biosensor test can be used as a complement to the (RNA) virus detection test; and a biosensor platform comprising of biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.