India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Short interest down 32.7% in June
India Globalization Capital, Inc. (NYSEAMERICAN:IGC – Get a rating) benefited from a significant drop in short-term interest rates during the month of June. As of June 30, there was short interest totaling 1,070,000 shares, down 32.7% from the June 15 total of 1,590,000 shares. Based on an average trading volume of 614,900 shares, the short interest ratio is currently 1.7 days.
Hedge Funds Strain Globalization Capital in India
Institutional investors have recently increased or reduced their stake in the stock. Davy Global Fund Management Ltd increased its position in India Globalization Capital by 11.7% during the fourth quarter. Davy Global Fund Management Ltd now owns 1,579,278 shares of the construction company worth $1,542,000 after buying an additional 165,402 shares last quarter. Vident Investment Advisory LLC increased its position in India Globalization Capital by 66.3% during the first quarter. Vident Investment Advisory LLC now owns 104,011 shares of the construction company worth $99,000 after buying 41,457 additional shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in India Globalization Capital by 310.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,661,393 shares of the construction company worth $1,622,000 after purchasing an additional 1,256,867 shares last quarter. Hedge funds and other institutional investors own 12.19% of the company’s shares.
India Globalization Social capital down 3.1%
Shares of NYSEAMERICAN:IGC opened at $0.51 on Friday. The company has a current ratio of 6.19, a quick ratio of 4.74 and a debt ratio of 0.01. The company has a market capitalization of $26.57 million, a PE ratio of -1.66 and a beta of 2.79. India Globalization Capital has a 1-year low of $0.42 and a 1-year high of $4.65.
About India Globalization Capital
India Globalization Capital, Inc buys and resells physical infrastructure products. The Company operates through two segments, Infrastructure Business and Life Sciences. It buys and sells infrastructure products, such as steel, wooden doors, marble and tiles; rents heavy construction equipment, including graders and rollers; and undertakes highway construction contracts.
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