IGC Pharma Inc (AMEX:IGC) shares, rose in value on Friday, April 05, with the stock price up by 2.80% to the previous day’s close as strong demand from buyers drove the stock to $0.71.
Actively observing the price movement in the recent trading, the stock is buoying the session at $0.69. Referring to stock’s 52-week performance, its high was $0.91, and the low was $0.25. On the whole, IGC has fluctuated by 115.96% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to -$0.04 for fiscal year -$0.22 and then to about -$0.16 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $190k, with a low estimate of $190k and a high estimate of $190k.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IGC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IGC currently trading nearly 76.43% and 106.87% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 89.32, while the 7-day volatility ratio is showing 24.55% which for the 30-day chart, stands at 15.48%. Furthermore, IGC Pharma Inc (IGC)’s beta value is 1.62, and its average true range (ATR) is 0.08.
A comparison of IGC Pharma Inc (IGC) with its peers suggests the former has fared considerably weaker in the market. IGC showed an intraday change of 2.80% in today’s session so far, and over the past year, it grew by 111.51%%.
Data on historical trading for IGC Pharma Inc (AMEX:IGC) indicates that the trading volumes over the past 10 days have averaged 1.72 million and over the past 3 months, they’ve averaged 697.12K. According to company’s latest data on outstanding shares, there are 66.06 million shares outstanding.
Nearly 10.98% of IGC Pharma Inc’s shares belong to company insiders and institutional investors own 3.74% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.85 million shares as on Mar 15, 2024, resulting in a short ratio of 1.49. According to the data, the short interest in IGC Pharma Inc (IGC) stood at 1.33% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.93 million. The stock has risen by 153.20% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IGC stock heading into the next quarter.
