Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Update

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 71,889 shares, a drop of 61.1% from the April 30th total of 184,625 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 47,526 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Separately, Benchmark dropped their price objective on shares of Intchains Group from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $3.00.

Institutional Investors Weigh In On Intchains Group

Large investors have recently bought and sold shares of the business. Independent Advisor Alliance bought a new stake in Intchains Group in the fourth quarter worth $37,000. SmartHarvest Portfolios LLC acquired a new position in shares of Intchains Group during the fourth quarter valued at about $121,000. XTX Topco Ltd boosted its position in Intchains Group by 190.2% in the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock valued at $135,000 after buying an additional 49,389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Intchains Group in the 1st quarter worth approximately $142,000. Finally, Goldman Sachs Group Inc. boosted its position in Intchains Group by 509.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock worth $180,000 after purchasing an additional 84,228 shares in the last quarter.

Intchains Group Stock Performance

Shares of Intchains Group stock traded up $0.17 on Monday, hitting $1.00. 409,648 shares of the company traded hands, compared to its average volume of 256,683. The stock has a market capitalization of $60.72 million, a P/E ratio of -8.33 and a beta of 1.09. Intchains Group has a 52 week low of $0.60 and a 52 week high of $3.25. The business has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.49.

Intchains Group (NASDAQ:ICG) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter. Intchains Group had a negative net margin of 24.68% and a negative return on equity of 5.29%. The company had revenue of $5.16 million for the quarter, compared to the consensus estimate of $42.70 million.

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.