It is Poised to be a Bull Market for IGC Pharma Inc. (IGC)

IGC Pharma Inc. (AMEX: IGC) stock fell -5.21% on Monday to $0.41 against a previous-day closing price of $0.44. With 0.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.23 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4545 whereas the lowest price it dropped to was $0.4070. The 52-week range on IGC shows that it touched its highest point at $0.74 and its lowest point at $0.28 during that stretch. Beta for the stock currently stands at 3.00.

Top 5 EV Tech Stocks to Buy for 2023

The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".

Click Here to Download the FREE Report.


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 down-trending over the past week, with a drop of -9.89%, but this was up by 21.91% over a month. Three-month performance surged to 33.71% while six-month performance rose 21.88%. The stock lost -23.61% in the past year, while it has gained 30.30% so far this year.

Float and Shares Shorts:

At present, 53.08 million IGC shares are outstanding with a float of 42.18 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.85 million, which was 1.58% higher than short shares on Jul 30, 2023.

Institutional Ownership:

Through their ownership of 5.10% of IGC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.01% of IGC, in contrast to 14.76% held by mutual funds. Shares owned by individuals account for 1.91%. As the largest shareholder in IGC with 1.40% of the stake, BlackRock Fund Advisors holds 755,786 shares worth 755,786. A second-largest stockholder of IGC, The Vanguard Group, Inc., holds 630,222 shares, controlling over 1.17% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in IGC, holding 302,140 shares or 0.56% stake. With a 1.17% stake in IGC, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 630,222 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.33% of IGC stock, is the second-largest Mutual Fund holder. It holds 176,095 shares valued at 60929.0. Bridgeway Ultra Small Company Mar holds 0.13% of the stake in IGC, owning 69,000 shares worth 23874.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, IGC reported revenue of $212.00k and operating income of -$2.80M. The EBITDA in the recently reported quarter was -$2.64M and diluted EPS was -$0.05.

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 643.9% to reach the target high and rise by 643.9% to reach the target low. Reaching the average price target will result in a growth of 643.9% 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.

Summary of Insider Activity:

Insiders traded IGC stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 400,000 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 983,336 while 400,000 shares were sold.

Leave a Comment

Your email address will not be published. Required fields are marked *