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Intchains Group Limited (NASDAQ:ICG) Sees Significant Drop in Short Interest

Intchains Group logo with Business Services background

Intchains Group Limited (NASDAQ:ICG - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 9,300 shares, a decrease of 13.1% from the April 30th total of 10,700 shares. Based on an average daily volume of 31,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the company's shares are sold short.

Intchains Group Stock Performance

ICG traded down $0.04 on Friday, reaching $2.09. 27,796 shares of the company's stock were exchanged, compared to its average volume of 103,694. The company's 50 day moving average is $2.09 and its 200-day moving average is $3.56. The company has a market cap of $125.42 million, a price-to-earnings ratio of 19.00 and a beta of 1.87. Intchains Group has a twelve month low of $1.40 and a twelve month high of $12.04.

Intchains Group (NASDAQ:ICG - Get Free Report) last posted its earnings results on Thursday, May 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.15). Intchains Group had a return on equity of 4.77% and a net margin of 19.08%. The business had revenue of $18.24 million for the quarter, compared to analyst estimates of $125.65 million.

Wall Street Analysts Forecast Growth

Separately, Maxim Group dropped their target price on shares of Intchains Group from $8.00 to $7.50 and set a "buy" rating for the company in a research report on Tuesday, May 27th.

Read Our Latest Report on Intchains Group

Institutional Trading of Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Intchains Group Limited (NASDAQ:ICG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 52,369 shares of the company's stock, valued at approximately $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Intchains Group as of its most recent SEC filing.

About Intchains Group

(Get Free Report)

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.

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