Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Up 27.7% in December

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 188,619 shares, an increase of 27.7% from the December 15th total of 147,695 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 102,221 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 102,221 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.3% of the shares of the company are sold short.

Intchains Group Stock Up 1.5%

Shares of ICG traded up $0.03 during trading hours on Friday, hitting $2.03. 114,904 shares of the company were exchanged, compared to its average volume of 76,349. Intchains Group has a fifty-two week low of $0.93 and a fifty-two week high of $4.36. The company has a market cap of $123.24 million, a price-to-earnings ratio of 9.67 and a beta of 1.39. The firm’s fifty day moving average is $1.68 and its 200 day moving average is $1.90.

Hedge Funds Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Marex Group plc purchased a new position in shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 58,324 shares of the company’s stock, valued at approximately $105,000. Marex Group plc owned 0.10% of Intchains Group at the end of the most recent quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ICG shares. Wall Street Zen upgraded Intchains Group from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Intchains Group in a research note on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating on shares of Intchains Group in a report on Monday, December 8th. Finally, Benchmark reissued a “buy” rating on shares of Intchains Group in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.50.

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.