Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Decreases By 37.0%

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 28,690 shares, a decline of 37.0% from the June 15th total of 45,564 shares. Based on an average daily volume of 34,028 shares, the short-interest ratio is presently 0.8 days. Approximately 0.0% of the shares of the company are sold short.

Intchains Group Trading Down 0.1%

Shares of ICG opened at $0.82 on Friday. The firm has a market cap of $49.72 million, a PE ratio of -6.82 and a beta of 1.17. The company’s 50 day simple moving average is $0.87 and its 200-day simple moving average is $1.29. Intchains Group has a 12-month low of $0.60 and a 12-month high of $3.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Intchains Group in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Intchains Group has an average rating of “Hold” and an average target price of $3.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Intchains Group by 509.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock valued at $180,000 after purchasing an additional 84,228 shares during the period. SmartHarvest Portfolios LLC acquired a new stake in shares of Intchains Group during the fourth quarter worth about $121,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Intchains Group during the first quarter worth about $142,000. XTX Topco Ltd grew its holdings in shares of Intchains Group by 190.2% during the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock worth $135,000 after buying an additional 49,389 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Intchains Group during the fourth quarter worth about $37,000.

About Intchains Group

Intchains Group Ltd (NASDAQ: ICG) is a technology company specializing in blockchain-based big data solutions. The company offers a suite of products and services aimed at enhancing data security, traceability and certification across diverse industries. Its core offerings include blockchain-powered data rights management, digital certificate issuance, supply-chain traceability platforms and analytics tools that leverage immutable ledgers to ensure data integrity.

Established in 2016 and headquartered in Beijing, Intchains Group serves a range of clients including government agencies, logistics providers, manufacturers and financial institutions.