India Globalization Capital Inc. [IGC] is 188.89% higher this YTD. Is it still time to buy?

India Globalization Capital Inc. [AMEX: IGC] traded at a low on 08/18/20, posting a -11.65 loss after which it closed the day’ session at $1.82. The company report on August 11, 2020 that FDA Approves Initiation of IGC’s Cannabinoid Trial on Alzheimer’s Patients.

IGC Announces FDA Removal of Clinical Hold for Multiple Ascending Dose Study of IGC-AD1, Targeting Patients Suffering from Alzheimer’s-related Dementia.

India Globalization Capital (“IGC” or the “Company”) (NYSE American: IGC) announced today that on July 30, 2020, the U.S. Food and Drug Administration (FDA) notified IGC that it has authorized the Company to initiate a Phase 1 human trial study for the Company’s investigational cannabinoid formulation for the treatment of patients suffering from mild to severe dementia due to Alzheimer’s disease. After the completion of administrative tasks, the Company plans to begin enrolling patients suffering from Alzheimer’s-related dementia for a 12-subject safety Multiple Ascending Dose (MAD) Study. The Company believes that the FDA’s approval of the initiation of the Phase 1 trial is a significant next step in IGC’s efforts to develop a potential therapy for treating patients suffering from a devastating disease.

The results of the trading session contributed to over 6483389 shares changing hands. Over the past one week, the price volatility of India Globalization Capital Inc. stands at 74.31% while the volatility over the past one month is 26.76%.

The market cap for IGC stock reached $101.01 million, with 39.33 million shares outstanding and 33.48 million shares in the current float. Compared to the average trading volume of 11.16M shares, IGC reached a trading volume of 6483389 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about India Globalization Capital Inc. [IGC]?

The Average True Range (ATR) for India Globalization Capital Inc. is set at 0.40, with the Price to Sales ratio for IGC stock in the period of the last 12 months amounting to 24.64. The Price to Book ratio for the last quarter was 2.72, with the Price to Cash per share for the same quarter was set at 0.22.

How has IGC stock performed recently?

India Globalization Capital Inc. [IGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 184.64. With this latest performance, IGC shares gained by 222.01% in over the last four-week period, additionally plugging by 222.70% over the last 6 months – not to mention a rise of 70.09% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IGC stock in for the last two-week period is set at 63.37, with the RSI for the last a single of trading hit 62.02, and the three-weeks RSI is set at 63.93 for India Globalization Capital Inc. [IGC]. The present Moving Average for the last 50 days of trading for this stock 0.7575, while it was recorded at 2.1560 for the last single week of trading, and 0.6379 for the last 200 days.

India Globalization Capital Inc. [IGC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and India Globalization Capital Inc. [IGC] shares currently have an operating margin of -168.57 and a Gross Margin at -0.47. India Globalization Capital Inc.’s Net Margin is presently recorded at -179.64.

Return on Equity for this stock declined to -24.34, with Return on Assets sitting at -23.06.

India Globalization Capital Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.90 and a Current Ratio set at 9.10.

Insider trade positions for India Globalization Capital Inc. [IGC]

There are presently around $4 million, or 4.70% of IGC stock, in the hands of institutional investors. The top three institutional holders of IGC stocks are: CARROLL FINANCIAL ASSOCIATES, INC. with ownership of 515,000, which is approximately 139.535% of the company’s market cap and around 13.90% of the total institutional ownership; VANGUARD GROUP INC, holding 454,110 shares of the stock with an approximate value of $0.83 million in IGC stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.48 million in IGC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in India Globalization Capital Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 10 institutional holders increased their position in India Globalization Capital Inc. [AMEX:IGC] by around 479,872 shares. Additionally, 7 investors decreased positions by around 81,721 shares, while 10 investors held positions by with 1,395,389 shares. The mentioned changes placed institutional holdings at 1,956,982 shares, according to the latest SEC report filing. IGC stock had 3 new institutional investments in for a total of 163,045 shares, while 5 institutional investors sold positions of 11,450 shares during the same period.

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