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

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 71,889 shares, a decrease 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 daily trading volume, of 47,526 shares, the days-to-cover ratio is currently 1.5 days.

Intchains Group Trading Down 15.3%

Shares of ICG opened at $0.83 on Friday. The business’s 50 day moving average is $1.22 and its 200 day moving average is $1.49. Intchains Group has a 12-month low of $0.60 and a 12-month high of $3.25. The company has a market capitalization of $50.39 million, a PE ratio of -6.92 and a beta of 1.34.

Intchains Group (NASDAQ:ICG) last posted its quarterly earnings results on Friday, February 27th. The company reported ($0.15) EPS for the quarter. Intchains Group had a negative return on equity of 5.29% and a negative net margin of 24.68%.The business had revenue of $5.16 million during the quarter, compared to analysts’ expectations of $42.70 million.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance purchased a new position in Intchains Group in the 4th quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Intchains Group in the 1st quarter worth approximately $142,000. SmartHarvest Portfolios LLC purchased a new position in Intchains Group in the 4th quarter worth approximately $121,000. XTX Topco Ltd lifted its holdings in Intchains Group by 190.2% in the 4th quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock worth $135,000 after purchasing an additional 49,389 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings 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.

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.