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 the month of 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 trading volume of 170,369 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the company are short sold.

Intchains Group Stock Performance

Shares of NASDAQ ICG traded down $0.01 during trading on Tuesday, hitting $0.73. The company had a trading volume of 57,778 shares, compared to its average volume of 129,897. The stock has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $1.44. Intchains Group has a 12 month low of $0.60 and a 12 month high of $3.25. The firm has a market capitalization of $44.33 million, a P/E ratio of -6.08 and a beta of 1.08.

Wall Street Analyst Weigh In

Separately, Benchmark lowered their target price on Intchains Group from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Independent Advisor Alliance bought a new position in shares of Intchains Group in the fourth quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Intchains Group in the first quarter worth about $142,000. SmartHarvest Portfolios LLC bought a new position in shares of Intchains Group in the fourth quarter worth about $121,000. XTX Topco Ltd raised its stake 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 worth $135,000 after buying an additional 49,389 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of 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 buying an additional 84,228 shares during the period.

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.