A History of Outperforming Analyst Forecasts and Beating the Odds: India Globalization Capital Inc. (IGC)

India Globalization Capital Inc. (AMEX: IGC) stock jumped 0.29% on Wednesday to $0.42 against a previous-day closing price of $0.42. With 0.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.3 million shares. During the session, the Conglomerates company that operates in wider Industrials sector, reached to the highest price of $0.4300 whereas the lowest price it dropped to was $0.4000. The 52-week range on IGC shows that it touched its highest point at $1.56 and its lowest point at $0.39 during that stretch. Beta for the stock currently stands at 3.48.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IGC was up-trending over the past week, with a rise of 0.34%, but this was down by -2.02% over a month. Three-month performance dropped to -28.83% while six-month performance fell -3.16%. The stock lost -70.04% in the past year, while it has lost -57.36% so far this year.

Float and Shares Shorts:

At present, 52.19 million IGC shares are outstanding with a float of 43.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.1 million, which was 2.10% higher than short shares on Sep 14, 2022. In addition to Mr. Ram Mukunda as the firm’s Pres, CEO & Director, Ms. Claudia Grimaldi serves as its VP, Principal Financial Officer, Chief Compliance Officer & Non-Independent Director.


Institutional Ownership:

Through their ownership of 6.05% of IGC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.60% of IGC, in contrast to 2.21% held by mutual funds. Shares owned by individuals account for 13.32%. As the largest shareholder in IGC with 1.42% of the stake, BlackRock Fund Advisors holds 744,220 shares worth 744,220. A second-largest stockholder of IGC, The Vanguard Group, Inc., holds 629,478 shares, controlling over 1.20% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in IGC, holding 320,900 shares or 0.61% stake. With a 1.20% stake in IGC, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 629,478 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.34% of IGC stock, is the second-largest Mutual Fund holder. It holds 180,014 shares valued at 79566.0. HANetf ICAV – Medical Cannabis & holds 0.23% of the stake in IGC, owning 120,486 shares worth 53255.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IGC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IGC analysts setting a high price target of $3.05 and a low target of $3.05, the average target price over the next 12 months is $3.05. Based on these targets, IGC could surge 626.19% to reach the target high and rise by 626.19% to reach the target low. Reaching the average price target will result in a growth of 626.19% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IGC will report FY 2015 earnings on 06/22/2023. Analysts have provided yearly estimates in a range of $0.09 being high and $0.09 being low. For IGC, this leads to a yearly average estimate of $0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.03. The average estimate for the next quarter is thus -$0.03.

Summary of Insider Activity:

Insiders traded IGC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 2,233,335 while 40,000 shares were sold.

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