Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG - Get Free Report) saw a large decrease in short interest during the month of 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 trading volume of 31,200 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company's shares are short sold.

Intchains Group Stock Performance

Shares of ICG traded down $0.06 during trading hours on Wednesday, hitting $2.04. The stock had a trading volume of 24,252 shares, compared to its average volume of 103,161. Intchains Group has a 12-month low of $1.40 and a 12-month high of $12.04. The firm has a market cap of $122.42 million, a P/E ratio of 18.55 and a beta of 1.91. The company's fifty day simple moving average is $2.10 and its 200 day simple moving average is $3.60.

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

Institutional Investors Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC purchased a new position in shares of Intchains Group Limited (NASDAQ:ICG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,518 shares of the company's stock, valued at approximately $35,000.

Wall Street Analysts Forecast Growth

Separately, Maxim Group dropped their price target 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.

Intchains Group Company Profile

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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