Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,800 shares, an increase of 65.5% from the August 15th total of 2,900 shares. Based on an average daily trading volume, of 33,800 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Benchmark upped their price target on shares of Intchains Group from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 16th.

Intchains Group Stock Performance

Intchains Group stock traded up $0.17 during trading hours on Friday, hitting $7.73. The company had a trading volume of 16,983 shares, compared to its average volume of 16,552. The firm has a market cap of $463.34 million, a P/E ratio of -77.30 and a beta of 0.79. Intchains Group has a 1 year low of $5.39 and a 1 year high of $14.22. The company has a 50-day moving average price of $6.84 and a two-hundred day moving average price of $7.76.

Intchains Group (NASDAQ:ICG) last announced its quarterly earnings results on Thursday, August 15th. The company reported $0.12 earnings per share for the quarter. Intchains Group had a net margin of 12.96% and a return on equity of 2.57%. The firm had revenue of $16.93 million during the quarter.

Intchains Group Company Profile

Intchains Group Limited designs and sells application-specific integrated circuit chips for blockchain applications in the People's Republic of China. The company also offers ancillary software, hardware, and other products. It serves distributors. Intchains Group Limited was founded in 2017 and is based in Pudong, China.