Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Declines By 62.6%

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 45,564 shares, a decrease of 62.6% from the May 31st total of 121,794 shares. Based on an average trading volume of 102,428 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Independent Advisor Alliance purchased a new stake in shares of Intchains Group during the fourth quarter worth $37,000. SmartHarvest Portfolios LLC purchased a new position in shares of Intchains Group in the fourth quarter valued at $121,000. XTX Topco Ltd grew its position in shares of 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 purchasing an additional 49,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Intchains Group during the 1st quarter valued at $142,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Intchains Group by 509.5% during the 4th 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.

Intchains Group Price Performance

NASDAQ:ICG traded down $0.04 on Tuesday, reaching $0.63. 26,785 shares of the company’s stock were exchanged, compared to its average volume of 223,664. The firm has a market cap of $38.25 million, a price-to-earnings ratio of -5.25 and a beta of 1.09. The stock has a fifty day simple moving average of $1.01 and a 200-day simple moving average of $1.37. Intchains Group has a 52 week low of $0.60 and a 52 week high of $3.25.

Analyst Ratings Changes

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 note on Tuesday, March 10th. One investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.