India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Sees Large Decline in Short Interest

India Globalization Capital, Inc. (NYSEAMERICAN:IGC) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,380,000 shares, a drop of 52.1% from the September 15th total of 2,880,000 shares. Based on an average daily trading volume, of 6,310,000 shares, the short-interest ratio is currently 0.2 days.

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD bought a new position in India Globalization Capital during the first quarter worth about $77,000. Penserra Capital Management LLC bought a new position in India Globalization Capital during the second quarter worth about $98,000. Virtu Financial LLC bought a new position in India Globalization Capital during the second quarter worth about $312,000. State Street Corp bought a new position in India Globalization Capital during the second quarter worth about $356,000. Finally, Geode Capital Management LLC lifted its stake in India Globalization Capital by 3.9% during the second quarter. Geode Capital Management LLC now owns 272,005 shares of the construction company’s stock worth $446,000 after purchasing an additional 10,334 shares during the period. Hedge funds and other institutional investors own 9.28% of the company’s stock.

Shares of NYSEAMERICAN IGC remained flat at $$1.43 during mid-day trading on Thursday. 3 shares of the company traded hands, compared to its average volume of 4,706,501. India Globalization Capital has a twelve month low of $1.10 and a twelve month high of $4.65. The company has a market capitalization of $72.98 million, a PE ratio of -6.81 and a beta of 3.35.

India Globalization Capital (NYSEAMERICAN:IGC) last announced its quarterly earnings results on Wednesday, August 11th. The construction company reported ($0.04) EPS for the quarter. The business had revenue of $0.08 million for the quarter. India Globalization Capital had a negative return on equity of 31.19% and a negative net margin of 2,229.41%.

India Globalization Capital Company Profile

India Globalization Capital, Inc engages in the development and commercialization of cannabinoid based alternative therapies for indications, such as Alzheimer’s disease, Parkinson’s disease, and pain. The firm is involved in researching the application of cannabinoids, such as Tetrahydrocannabinol and Cannabidiol in combination with other compounds to address various ailments, including Alzheimer’s disease.

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