Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Up 315.0% in July

Key Points

• Short interest surged 315% in July to 105,455 shares, equal to 0.2% of outstanding shares and 2.4 days of average trading volume.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating. The consensus rating is Hold, with a target price of $3.00.
• Several institutional investors increased or initiated positions, including Goldman Sachs, which raised its stake by 509.5%, and XTX Topco, which increased its stake by 190.2%.

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 105,455 shares, a growth of 315.0% from the July 15th total of 25,408 shares. Based on an average daily trading volume, of 43,675 shares, the short-interest ratio is currently 2.4 days. Approximately 0.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Intchains Group in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Intchains Group has an average rating of "Hold" and a consensus target price of $3.00.

Hedge Funds Weigh In On Intchains Group

Several large investors have recently bought and sold shares of ICG. XTX Topco Ltd lifted its stake in shares of Intchains Group by 190.2% in the 4th quarter. XTX Topco Ltd now owns 75,354 shares of the company's stock worth $135,000 after acquiring an additional 49,389 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Intchains Group by 509.5% during 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Intchains Group during the first quarter worth approximately $142,000. SmartHarvest Portfolios LLC acquired a new stake in Intchains Group in the fourth quarter worth approximately $121,000. Finally, Independent Advisor Alliance bought a new position in Intchains Group during the 4th quarter valued at $37,000.

Intchains Group Price Performance

ICG opened at $0.88 on Thursday. The stock's 50 day moving average price is $0.80 and its 200 day moving average price is $1.15. The stock has a market cap of $53.43 million, a P/E ratio of -7.33 and a beta of 1.05. Intchains Group has a 12 month low of $0.60 and a 12 month high of $2.59.

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.

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