IGC Pharma Inc [AMEX: IGC] stock went on an upward path that rose over 1.18% on Friday, amounting to a one-week price decrease of less than -1.64%. The company report on February 16, 2024 at 7:05 PM that IGC Pharma Reports Third Quarter Fiscal 2024 Results.
IGC Pharma, Inc. (“IGC” or the “Company”) (NYSE American: IGC) today announced its financial results for the third fiscal quarter of 2024 ended December 31, 2023 (Q3 FY 2024).
Over the last 12 months, IGC stock dropped by -23.27%. The one-year IGC Pharma Inc stock forecast points to a potential upside of 89.09. The average equity rating for IGC stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $19.12 million, with 53.08 million shares outstanding and 51.36 million shares in the current float. Compared to the average trading volume of 277.00K shares, IGC stock reached a trading volume of 177733 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on IGC Pharma Inc [IGC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IGC shares is $2.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IGC stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for IGC Pharma Inc is set at 0.02, with the Price to Sales ratio for IGC stock in the period of the last 12 months amounting to 15.67. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 0.02.
IGC Stock Performance Analysis:
IGC Pharma Inc [IGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.64. With this latest performance, IGC shares gained by 6.65% in over the last four-week period, additionally sinking by -11.76% over the last 6 months – not to mention a drop of -23.27% 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 57.37, with the RSI for the last a single of trading hit 60.60, and the three-weeks RSI is set at 54.53 for IGC Pharma Inc [IGC]. The present Moving Average for the last 50 days of trading for this stock 0.2876, while it was recorded at 0.2976 for the last single week of trading, and 0.3217 for the last 200 days.
Insight into IGC Pharma Inc Fundamentals:
IGC Pharma Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.83 and a Current Ratio set at 1.85.
IGC Pharma Inc [IGC] Institutonal Ownership Details
The top three institutional holders of IGC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IGC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IGC stock with ownership which is approximately 5.8325%.
