India Globalization Capital, Inc. (NYSE:IGC) traded at $1.23 at last check on Tuesday, Sep 15, making an upward move of 9.82% on its previous day’s price.
Looking at the stock we see that its previous close was $1.12 and the beta (5Y monthly) reads 4.41 with the day’s price range being $1.1500 – 1.3900. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, IGC has a high of $4.5 and a low of $0.26. The company’s stock has gained about -31.67% over that past 30 days.
On the other hand, looking at the outlook for the IGC stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the IGC stock currently stands at 0, and the current price level is -9.09% off its SMA20 and 22.17% from its 50-day simple moving average. The RSI (14) is pointing at 50.69 while the volatility over the past week is 11.22% and jumps to 18.07% over the past one month. The beta value is 4.41, while the average true range (ATR) is currently pointing at 0.32. The average price target for the stock over the next 12 months is $3.05, with the estimates having a low of $3.05 and a high of $3.05. These price ends are 147.97% and +147.97% off the current price level respectively, although investors could be excited at the prospect of a +147.97% if the IGC share price touches on the median price of $3.05.
Let’s briefly compare India (IGC) stock to its peers. We find that today’s price change of +9.82% and +9.82% over the past 12 months for IGC competes that of Zoetis Inc Cl A (ZTS), which has seen its stock price rise 0.88% in the latest trading session and is +35.64% over the last one year. Another of its peers Takeda Pharmaceutical Co. Ltd (TAK) has climbed 0.27% today, and is +6.29% up over the past year, while Catalent Inc (CTLT) is also up 9.82% yet its price remains in the green at 9.82% over the same period. Zoetis has a P/E ratio of 48 compared to India’s 0 and Takeda’s 22.7. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.52% and 0.01%, respectively, in early deals.
Coming back to India Globalization Capital, Inc. (NYSE:IGC), we note that the average 3-month trading volume was 12.59 Million, while that of the preceding 10-day period stands at 1.44 Million. Current shares outstanding are 41.19 Million.
According to data from Thomson Reuters, insiders hold 14.78% of the company’s shares while institutions hold 3.93%. The data shows that short shares as of August 30, 2020, stood at 2.48 Million at a short ratio of 0.08. This represents a 6.01% Short interest in Shares outstanding on August 30, 2020. Shares short rose in August from the previous month at 1.91 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +95.24% up in year-to-date price movement.