Short Interest in IGC Pharma, Inc. (NYSEAMERICAN:IGC) Expands By 10.6%

IGC Pharma, Inc. (NYSEAMERICAN:IGC) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 938,800 shares, an increase of 10.6% from the March 15th total of 848,500 shares. Based on an average daily trading volume, of 740,100 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On IGC Pharma

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in IGC Pharma by 302.6% during the second quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock worth $26,000 after buying an additional 36,290 shares during the period. Vident Investment Advisory LLC increased its stake in IGC Pharma by 66.3% during the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock worth $99,000 after acquiring an additional 41,457 shares during the last quarter. Millennium Management LLC increased its stake in IGC Pharma by 76.2% during the fourth quarter. Millennium Management LLC now owns 144,724 shares of the construction company’s stock worth $46,000 after acquiring an additional 62,599 shares during the last quarter. Renaissance Technologies LLC increased its stake in IGC Pharma by 47.5% during the second quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock worth $51,000 after acquiring an additional 52,409 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in IGC Pharma by 211.3% during the third 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 last quarter. 3.87% of the stock is currently owned by hedge funds and other institutional investors.

IGC Pharma Trading Up 10.7 %

IGC opened at $0.49 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.02. The firm has a market cap of $30.97 million, a price-to-earnings ratio of -1.87 and a beta of 1.71. IGC Pharma has a one year low of $0.25 and a one year high of $0.91.

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on IGC Pharma in a report on Friday, April 12th. They issued a “sell” rating on the stock.

IGC Pharma Company Profile

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.