Short Interest in IGC Pharma, Inc. (NYSEAMERICAN:IGC) Rises By 46.3%

IGC Pharma, Inc. (NYSEAMERICAN:IGC) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 428,376 shares, an increase of 46.3% from the November 30th total of 292,751 shares. Based on an average daily trading volume, of 707,283 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 707,283 shares, the days-to-cover ratio is currently 0.6 days.

IGC Pharma Price Performance

Shares of NYSEAMERICAN:IGC traded down $0.00 during mid-day trading on Monday, reaching $0.30. 325,402 shares of the company traded hands, compared to its average volume of 1,136,955. The stock’s 50 day simple moving average is $0.35. The company has a market capitalization of $27.45 million, a price-to-earnings ratio of -4.22 and a beta of 0.24. IGC Pharma has a 52 week low of $0.25 and a 52 week high of $0.50. 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) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.19 million during the quarter. IGC Pharma had a negative return on equity of 96.54% and a negative net margin of 583.91%.

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