Is India Globalization Capital Inc. (AMEX: IGC) Proving The Doubters Wrong?


Carroll Financial Associates, Inc.. has recently announced that it has increased stake in India Globalization Capital Inc. (AMEX:IGC) by 139.53%. After grabbing 0.52 million shares, the institutional investor is now in possession of 0.3 million shares of the Industrials Company. The new investment brought the stake of investor firm to 1.25% having worth around $0.31 million. Moreover, Bridgeway Capital Management, Inc.. increased its share by 0.13 million to have a control over 0.13 million shares. And Virtu Financial BD LLC raised its holdings to 11443.0 shares by acquiring 0.11 million shares or 0.27% of the stake.

India Globalization Capital Inc. (IGC) concluded trading on 08/26/20 at a closing price of $1.35, with 1.71 million shares of worth about $2.31 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -12.34% during that period and on Wednesday the price saw a loss of about -1.46%. Currently the company’s common shares owned by public are about 40.19M shares, out of which, 33.48M shares are available for trading.

Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.05 and could fall to a lowest price of $3.05. However, touching the estimated high of $3.05 would mean a gain of 55.74% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 6 times over the past 12 months. They bought 1,265,000 shares in 5 of the transactions. In 1 selling transactions, insiders dumped 40,000 shares.

Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Bridgeway Ultra Small Company Mar are the top 3 mutual funds which are holding stakes in India Globalization Capital Inc. Vanguard Extended Market Index Fu is currently holding 0.45 million shares of worth totaling $0.28 million. The company recently came buying 0.0 shares which brought its stake up to 1.10% of the company’s outstanding shares. Bridgeway Ultra Small Company Mar, after buying 99000.0 shares, have now control over 0.24% of the stake in the company. It holds 99000.0 shares of worth $60390.0.

India Globalization Capital Inc. (AMEX: IGC) started trading at $1.35, below -$0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $1.35, or with a loss of -1.46%. Stock saw a price change of -12.34% in past 5 days and over the past one month there was a price change of 92.86%. Year-to-date (YTD), IGC shares are showing a performance of 114.29% which increased to 31.07% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.26 but also hit the highest price of $4.50 during that period. While comparing its average daily trading volume of 11.21 million shares, we see that about 1.71 million changed hands on the day. The stock is currently trading 10.79% above its 20-day simple moving average (SMA20), while that difference is up 61.48% for SMA50 and it goes to 107.85% higher than SMA200.

Carroll Financial Associates, Inc.. acquired 0.52 million shares of India Globalization Capital Inc. having value of about $0.31 million. Data submitted at the U.S SEC by Carroll Financial Associates, Inc.. revealed that the firm now holds 0.3 million shares in the company valued at close to $405000.0, or have control over 139.53% stake in the company. India Globalization Capital Inc. (AMEX: IGC) currently have 40.19M outstanding shares and institutions hold larger chunk of about 5.00% of that. Holding of mutual funds in the company is about 2.05% while other institutional holders and individual stake holders have control over 2.62% and 14.61% of the stake respectively.

The stock has a current market capitalization of $61.51M and its 3Y-monthly beta is at 4.44. It has posted earnings per share of -$0.19 in the same period. It has Quick Ratio of 4.10 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IGC, volatility over the week remained 13.84% while standing at 27.21% over the month.

Analysts are in expectations that India Globalization Capital Inc. (IGC) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter ESPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to drop by -60.00%.


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