IGC Pharma (NYSEAMERICAN:IGC) Share Price Crosses Above 200-Day Moving Average of $0.00

IGC Pharma, Inc. (NYSEAMERICAN:IGC) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.58. IGC Pharma shares last traded at $0.53, with a volume of 341,754 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on IGC Pharma in a research note on Monday, May 6th. They set a “sell” rating on the stock.

IGC Pharma Stock Performance

The stock has a market cap of $35.21 million, a PE ratio of -2.03 and a beta of 1.63. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On IGC Pharma

A hedge fund recently raised its stake in IGC Pharma stock. Commonwealth Equity Services LLC raised its holdings in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,490 shares of the construction company’s stock after purchasing an additional 112,334 shares during the quarter. Commonwealth Equity Services LLC owned 0.31% of IGC Pharma worth $59,000 at the end of the most recent quarter. 3.87% of the stock is currently owned by institutional investors.

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.