IGC Pharma (NYSEAMERICAN:IGC) Stock Passes Above Two Hundred Day Moving Average of $0.00

IGC Pharma, Inc. (NYSEAMERICAN:IGC)’s stock price passed 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.

Wall Street Analyst Weigh In

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

IGC Pharma Stock Performance

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

Hedge Funds Weigh In On IGC Pharma

An institutional investor recently raised its position in IGC Pharma stock. Commonwealth Equity Services LLC raised its position in shares of IGC Pharma, Inc. (NYSEAMERICAN:IGC) by 211.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,490 shares of the construction company’s stock after buying an additional 112,334 shares during the quarter. Commonwealth Equity Services LLC owned about 0.31% of IGC Pharma worth $59,000 at the end of the most recent reporting period. 3.87% of the stock is currently owned by institutional investors.

About IGC Pharma

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.