India Globalization Capital, Inc. (NYSEAMERICAN:IGC) was the target of a significant drop in short interest in September. As of September 14th, there was short interest totalling 1,635,947 shares, a drop of 54.5% from the August 31st total of 3,593,660 shares. Approximately 6.3% of the company’s stock are sold short. Based on an average daily volume of 4,034,014 shares, the short-interest ratio is currently 0.4 days.

NYSEAMERICAN:IGC opened at $4.60 on Friday. India Globalization Capital has a 52 week low of $0.35 and a 52 week high of $4.71.

India Globalization Capital (NYSEAMERICAN:IGC) last posted its quarterly earnings results on Thursday, August 2nd. The construction company reported ($0.02) EPS for the quarter. India Globalization Capital had a negative net margin of 69.92% and a negative return on equity of 31.15%. The firm had revenue of $1.48 million for the quarter.

In other India Globalization Capital news, VP Claudia Grimaldi sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $1.10, for a total transaction of $55,000.00. Following the completion of the transaction, the vice president now owns 594,007 shares of the company’s stock, valued at $653,407.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ram Mukunda sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $1.33, for a total transaction of $166,250.00. Following the transaction, the chief executive officer now directly owns 1,999,760 shares of the company’s stock, valued at approximately $2,659,680.80. The disclosure for this sale can be found here. Insiders have sold 416,020 shares of company stock valued at $587,790 in the last ninety days.

About India Globalization Capital

India Globalization Capital, Inc engages in the development and commercialization of cannabis-based therapies to treat Alzheimer's, pain, nausea, eating disorders, several end points of Parkinson's, and epilepsy in humans, dogs, and cats. The company operates through two segments, Legacy Infrastructure and Medical Cannabis Based Alternative Therapies.

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