IGC Pharma, Inc. (NYSEAMERICAN:IGC) Short Interest Up 10.6% in March

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

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on IGC Pharma in a research note on Friday. They issued a “sell” rating on the stock.

Institutional Trading of IGC Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its stake in shares of IGC Pharma by 302.6% during the 2nd quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock worth $26,000 after acquiring an additional 36,290 shares during the period. Vident Investment Advisory LLC increased its holdings in shares of IGC Pharma by 66.3% in the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after purchasing an additional 41,457 shares during the last quarter. Renaissance Technologies LLC lifted 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 lifted its stake in shares of IGC Pharma by 76.2% during 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 during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of IGC Pharma by 211.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 165,490 shares of the construction company’s stock worth $59,000 after buying an additional 112,334 shares during the period. 3.87% of the stock is owned by institutional investors.

IGC Pharma Price Performance

IGC stock opened at $0.44 on Monday. IGC Pharma has a 1 year low of $0.25 and a 1 year high of $0.91. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02.

IGC Pharma (NYSEAMERICAN:IGC) last posted 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 business had revenue of $0.20 million during the quarter.

About IGC Pharma

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.