IGC Pharma (NYSEAMERICAN:IGC) Stock Price Passes Above 200-Day Moving Average of $0.00

Shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $0.38. IGC Pharma shares last traded at $0.36, with a volume of 160,873 shares trading hands.

IGC Pharma Trading Up 3.4 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 2.38. The firm has a market capitalization of $19.52 million, a P/E ratio of -1.72 and a beta of 1.91.

IGC Pharma (NYSEAMERICAN:IGC) last issued its earnings results on Thursday, August 10th. The construction company reported ($0.04) earnings per share for the quarter. IGC Pharma had a negative net margin of 860.24% and a negative return on equity of 64.87%. The business had revenue of $0.56 million during the quarter.

Hedge Funds Weigh In On IGC Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in IGC. Jane Street Group LLC lifted its holdings in shares of IGC Pharma by 302.6% in the second quarter. Jane Street Group LLC now owns 48,281 shares of the construction company’s stock valued at $26,000 after purchasing an additional 36,290 shares in the last quarter. Vident Investment Advisory LLC raised its position in IGC Pharma by 66.3% in the 1st quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company’s stock valued at $99,000 after buying an additional 41,457 shares during the last quarter. Renaissance Technologies LLC lifted its stake in IGC Pharma by 47.5% during the 2nd quarter. Renaissance Technologies LLC now owns 162,709 shares of the construction company’s stock valued at $51,000 after acquiring an additional 52,409 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in 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 acquiring an additional 62,599 shares during the last quarter. Institutional investors own 4.92% of the company’s 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.