Could India Globalization Capital Inc (NYSEAMERICAN:IGC) Change Direction After Less Shorts?

May 8, 2018 - By Tina Thibodeau

India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Logo

The stock of India Globalization Capital Inc (NYSEAMERICAN:IGC) registered a decrease of 12.28% in short interest. IGC’s total short interest was 356,400 shares in May as published by FINRA. Its down 12.28% from 406,300 shares, reported previously. With 422,500 shares average volume, it will take short sellers 1 days to cover their IGC’s short positions. The short interest to India Globalization Capital Inc’s float is 1.97%.

The stock decreased 0.71% or $0.0044 during the last trading session, reaching $0.6126. About 185,921 shares traded. India Globalization Capital, Inc. (NYSEAMERICAN:IGC) has risen 43.26% since May 8, 2017 and is uptrending. It has outperformed by 31.71% the S&P500.

India Globalization Capital, Inc. engages in the development of cannabis therapies to treat AlzheimerÂ’s, pain, nausea, eating disorders, several end points of ParkinsonÂ’s, and epilepsy in humans, dogs, and cats. The company has market cap of $19.18 million. The companyÂ’s products under medical trials include Natrinol, a natural substitute for Marinol for relieving nausea, vomiting, and increasing appetite in patients with AIDS and cancer; Caesafin to alleviate seizures in dogs and cats; Serosapse addresses several end points in ParkinsonÂ’s disease, including Rapid Eye Movement sleep disorder, anxiety, and dyskinesia; and Hyalolex to reduce the buildup of beta-amyloid in AlzheimerÂ’s patients. It currently has negative earnings. It also provides construction management services for the construction of a 7-star hotel in Genting Malaysia; and rents heavy equipment with operators to construction companies.

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