IGC Pharma, Inc. (NYSEAMERICAN:IGC) Sees Significant Drop in Short Interest

by · The Markets Daily

IGC Pharma, Inc. (NYSEAMERICAN:IGC – Get Free Report) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 315,961 shares, a decline of 16.3% from the December 31st total of 377,332 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 424,506 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 424,506 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.4% of the company’s shares are sold short.

IGC Pharma Trading Down 1.5%

Shares of NYSEAMERICAN IGC traded down $0.00 during mid-day trading on Tuesday, reaching $0.27. The company had a trading volume of 718,340 shares, compared to its average volume of 405,357. IGC Pharma has a 52 week low of $0.25 and a 52 week high of $0.50. The stock’s 50-day moving average price is $0.30. The company has a current ratio of 1.32, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02.

IGC Pharma (NYSEAMERICAN:IGC – Get Free Report) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $0.19 million during the quarter. IGC Pharma had a negative net margin of 583.91% and a negative return on equity of 96.54%.

IGC Pharma Company Profile

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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. It also markets Holief, a wellness brand that targets women experiencing premenstrual syndrome and menstrual cramps.

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