Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Up 315.0% in July

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 105,455 shares, a growth of 315.0% from the July 15th total of 25,408 shares. Based on an average daily volume of 43,675 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Trading of Intchains Group

Institutional investors have recently added to or reduced their stakes in the stock. Independent Advisor Alliance purchased a new position in Intchains Group in the fourth quarter valued at about $37,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Intchains Group during the 4th quarter worth approximately $121,000. XTX Topco Ltd boosted its stake in shares of Intchains Group by 190.2% during the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Intchains Group in the 1st quarter worth approximately $142,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 acquiring an additional 84,228 shares during the period.

Intchains Group Stock Performance

Shares of NASDAQ ICG opened at $0.86 on Friday. Intchains Group has a one year low of $0.60 and a one year high of $2.28. The firm has a market capitalization of $52.21 million, a P/E ratio of -7.17 and a beta of 1.05. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $1.14.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Intchains Group in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.00.

Intchains Group Company Profile

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.