India Globalization Capital Inc. (AMEX: IGC) is 22.44% higher on its value in year-to-date trading and has touched a low of $0.26 and a high of $4.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IGC stock was last observed hovering at around $1.83 in the last trading session, with the day’s gains setting it 0.08% off its average median price target of $3.05 for the next 12 months. It is also 37.38% off the consensus price target high of $3.05 offered by 0 analysts, but current levels are 37.38% higher than the price target low of $3.05 for the same period.
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Currently trading at $1.91, the stock is -4.55% and 5.93% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.16 million and changing 4.37% at the moment leaves the stock 55.78% off its SMA200. IGC registered 255.88% gain for a year compared to 6-month gain of 43.61%. The firm has a 50-day simple moving average (SMA 50) of $1.8448 and a 200-day simple moving average (SMA200) of $1.5270.
The stock witnessed a 28.19% loss in the last 1 month and extending the period to 3 months gives it a 49.22%, and is -5.45% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.91% over the week and 18.45% over the month.
India Globalization Capital Inc. (IGC) has around 31 employees, a market worth around $74.74M and $0.80M in sales. Distance from 52-week low is 626.24% and -57.56% from its 52-week high. The company has generated returns on investments over the last 12 months (-28.70%).
India Globalization Capital Inc. (IGC) Analyst Forecasts
India Globalization Capital Inc. is expected to release its quarterly report on 06/14/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to shrink by -60.00% this year.
India Globalization Capital Inc. (IGC) Top Institutional Holders
27 institutions hold shares in India Globalization Capital Inc. (IGC), with 5.84M shares held by insiders accounting for 12.87% while institutional investors hold 5.71% of the company’s shares. The shares outstanding are 41.30M, and float is at 35.80M with Short Float at 5.29%. Institutions hold 4.98% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 0.91 million shares valued at $1.42 million. The investor’s holdings represent 2.30% of the IGC Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.71 million shares valued at $1.11 million to account for 1.80% of the shares outstanding. The other top investors are Carroll Financial Associates, Inc. which holds 0.45 million shares representing 1.12% and valued at over $0.69 million, while Susquehanna International Group, LLP holds 0.69% of the shares totaling 0.27 million with a market value of $0.42 million.
India Globalization Capital Inc. (IGC) Insider Activity
A total of 6 insider transactions have happened at India Globalization Capital Inc. (IGC) in the last six months, with sales accounting for 6 and purchases happening 0 times. The most recent transaction is an insider sale by PRINS RICHARD K, the company’s Director. SEC filings show that PRINS RICHARD K sold 50,000 shares of the company’s common stock on Dec 01 at a price of $2.04 per share for a total of $0.1 million. Following the sale, the insider now owns 0.74 million shares.
India Globalization Capital Inc. disclosed in a document filed with the SEC on Nov 30 that MUKUNDA RAM (Exec. Chairman & CEO) sold a total of 80,000 shares of the company’s common stock. The trade occurred on Nov 30 and was made at $2.34 per share for $0.19 million. Following the transaction, the insider now directly holds 2.82 million shares of the IGC stock.
India Globalization Capital Inc. (IGC): Who are the competitors?
The company’s main competitors (and peers) include Granite Construction Incorporated (GVA) that is trading 53.08% up over the past 12 months. Sterling Construction Company Inc. (STRL) is 67.95% up on the 1-year trading charts. Short interest in the company’s stock has fallen -32.8% from the last report on Dec 30, 2020 to stand at a total of 2.51 million short shares sold with a short interest ratio of 0.47.