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

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 121,794 shares, an increase of 69.4% from the May 14th total of 71,889 shares. Based on an average daily volume of 170,369 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the company’s stock are sold short.

Intchains Group Stock Performance

ICG stock traded up $0.02 during trading on Monday, reaching $0.74. 43,041 shares of the company traded hands, compared to its average volume of 240,412. Intchains Group has a 12 month low of $0.60 and a 12 month high of $3.25. The business has a 50 day simple moving average of $1.14 and a 200 day simple moving average of $1.45. The company has a market capitalization of $44.94 million, a price-to-earnings ratio of -6.17 and a beta of 1.08.

Institutional Investors Weigh In On Intchains Group

Institutional investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance acquired a new stake in Intchains Group in the fourth quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Intchains Group in the first quarter worth about $142,000. SmartHarvest Portfolios LLC acquired a new stake in Intchains Group in the fourth quarter worth about $121,000. XTX Topco Ltd boosted its holdings in Intchains Group by 190.2% in the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock worth $135,000 after acquiring an additional 49,389 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Intchains Group by 509.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock worth $180,000 after acquiring an additional 84,228 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Benchmark dropped their price objective on Intchains Group from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.00.

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.