Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Stock Short Interest Report for September

Key Points

• Short interest fell 50% to 66,278 shares as of September 30, down from 132,666 shares on September 15. Short interest represented about 0.1% of outstanding shares, with a days-to-cover ratio of 1.0.
• Intchains Group shares recently traded at $1.35, within a 52-week range of $0.60 to $2.28, while trading volume significantly exceeded its average. The company has an $81.9 million market capitalization and remains unprofitable.
• The company reported a quarterly loss of $0.18 per share and revenue of $0.82 million, missing analyst expectations. Analyst views are mixed, producing an overall Hold rating and a consensus price target of $2.50.

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 66,278 shares, a drop of 50.0% from the September 15th total of 132,666 shares. Based on an average daily volume of 66,081 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company's shares are short sold.

Intchains Group Price Performance

NASDAQ ICG traded up $0.12 during trading hours on Wednesday, hitting $1.35. The company had a trading volume of 862,044 shares, compared to its average volume of 190,964. The company has a market capitalization of $81.90 million, a price-to-earnings ratio of -11.17 and a beta of 1.11. Intchains Group has a fifty-two week low of $0.60 and a fifty-two week high of $2.28. The firm's 50 day moving average is $0.95 and its 200 day moving average is $0.99.

Intchains Group (NASDAQ:ICG - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.15). The company had revenue of $0.82 million during the quarter, compared to analysts' expectations of $5.17 million.

Wall Street Analyst Weigh In

Several research firms recently commented on ICG. Maxim Group reiterated a "buy" rating and issued a $3.00 target price on shares of Intchains Group in a research note on Monday, August 24th. Weiss Ratings reissued a "sell (d)" rating on shares of Intchains Group in a research note on Monday. Finally, Benchmark decreased their price target on Intchains Group from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $2.50.

Intchains Group Company Profile

Intchains Group Limited is a China-based fabless integrated circuit design company focused on application-specific integrated circuits (ASICs) for blockchain and other high-performance computing applications. The company develops chip products intended to support computationally intensive tasks, including cryptocurrency mining.

Its offerings include ASIC chips and related ancillary products, such as computing hardware and supporting components. Intchains is involved primarily in chip design, product development and sales, while manufacturing is conducted through third-party semiconductor foundries and suppliers.

Intchains Group operates through subsidiaries in China and serves customers in China and other markets.

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