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

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

Institutional Investors Weigh In On Intchains Group

A number of large investors have recently added to or reduced their stakes in the company. Independent Advisor Alliance bought a new position in shares of Intchains Group during the fourth quarter valued at about $37,000. SmartHarvest Portfolios LLC bought a new stake in shares of Intchains Group in the fourth quarter worth about $121,000. XTX Topco Ltd increased its holdings in Intchains Group by 190.2% during the 4th 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Intchains Group during the 1st quarter valued at about $142,000. Finally, Goldman Sachs Group Inc. raised its position in 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 last quarter.

Intchains Group Stock Performance

NASDAQ:ICG opened at $0.68 on Friday. Intchains Group has a fifty-two week low of $0.60 and a fifty-two week high of $3.25. The firm has a market cap of $40.99 million, a PE ratio of -5.63 and a beta of 1.08. The business has a 50 day moving average price of $1.03 and a 200-day moving average price of $1.38.

Analyst Ratings Changes

Separately, Benchmark decreased their price objective 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 research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.