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

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the target of a large decrease in short interest in 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 daily volume of 102,428 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Intchains Group Stock Down 1.5%

NASDAQ:ICG traded down $0.01 during trading hours on Monday, hitting $0.67. 31,207 shares of the company’s stock traded hands, compared to its average volume of 225,278. The business’s fifty day simple moving average is $1.03 and its two-hundred day simple moving average is $1.38. The firm has a market cap of $40.38 million, a P/E ratio of -5.54 and a beta of 1.09. Intchains Group has a 52 week low of $0.60 and a 52 week high of $3.25.

Analysts Set New Price Targets

Separately, Benchmark decreased their price objective on shares of Intchains Group from $4.00 to $3.00 and set a “buy” rating for the company in a 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Institutional Trading of Intchains Group

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised 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. SmartHarvest Portfolios LLC purchased a new position in shares of Intchains Group during the fourth quarter valued at about $121,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Intchains Group during the first quarter valued at about $142,000. XTX Topco Ltd raised its stake in 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 in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in Intchains Group in the fourth quarter worth about $37,000.

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.