Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Down 37.0% in June

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 28,690 shares, a decline of 37.0% from the June 15th total of 45,564 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 34,028 shares, the short-interest ratio is presently 0.8 days.

Intchains Group Stock Performance

Shares of Intchains Group stock traded down $0.01 on Friday, reaching $0.81. 10,222 shares of the stock were exchanged, compared to its average volume of 215,840. The firm has a market cap of $49.18 million, a PE ratio of -6.75 and a beta of 1.17. The firm’s 50 day moving average is $0.88 and its 200-day moving average is $1.29. Intchains Group has a one year low of $0.60 and a one year high of $3.09.

Hedge Funds Weigh In On Intchains Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd lifted its position in shares of Intchains Group by 190.2% during the 4th 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 last quarter. SmartHarvest Portfolios LLC acquired a new stake in Intchains Group in the fourth quarter valued at about $121,000. Goldman Sachs Group Inc. grew its position in Intchains Group by 509.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock valued at $180,000 after acquiring an additional 84,228 shares during the last quarter. Independent Advisor Alliance bought a new position in Intchains Group in the fourth quarter valued at about $37,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Intchains Group during the first quarter worth about $142,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Intchains Group in a report on Tuesday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Intchains Group 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.