IGC Pharma, Inc. (NYSEAMERICAN:IGC) Short Interest Update

IGC Pharma, Inc. (NYSEAMERICAN:IGCGet Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 848,500 shares, a decline of 6.8% from the February 29th total of 910,700 shares. Based on an average daily trading volume, of 471,200 shares, the days-to-cover ratio is presently 1.8 days.

IGC Pharma Price Performance

NYSEAMERICAN IGC opened at $0.54 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.86 and a current ratio of 1.85. IGC Pharma has a 52-week low of $0.25 and a 52-week high of $0.65.

IGC Pharma (NYSEAMERICAN:IGCGet Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The construction company reported ($0.09) earnings per share for the quarter. The business had revenue of $0.20 million during the quarter. IGC Pharma had a negative net margin of 1,163.24% and a negative return on equity of 110.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IGC. Commonwealth Equity Services LLC grew its holdings in shares of IGC Pharma by 211.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock worth $59,000 after acquiring an additional 112,334 shares during the period. Renaissance Technologies LLC raised its stake in shares of IGC Pharma by 47.5% during the 2nd quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock worth $51,000 after buying an additional 52,409 shares during the last quarter. Millennium Management LLC boosted its position in shares of IGC Pharma by 76.2% in the 4th quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock worth $46,000 after buying an additional 62,599 shares in the last quarter. Jane Street Group LLC grew its stake in IGC Pharma by 302.6% in the 2nd quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock valued at $26,000 after acquiring an additional 36,290 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in IGC Pharma by 66.3% during the 1st quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after acquiring an additional 41,457 shares in the last quarter. 3.87% of the stock is currently owned by institutional investors and hedge funds.

About IGC Pharma

(Get Free Report)

IGC Pharma, Inc, a clinical stage biotechnology company, engages in developing cannabinoid-based formulations for treating diseases and conditions, including Alzheimer's disease, dysmenorrhea, premenstrual syndrome, and chronic pain. The company has two investigational drug assets targeting Alzheimer's disease comprising IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer's; and TGR-63 that is in pre-clinical development.

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