Intchains Group Limited (NASDAQ:ICG - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 16,100 shares, a decrease of 28.4% from the March 31st total of 22,500 shares. Based on an average daily trading volume, of 24,800 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.0% of the company's stock are sold short.
Analysts Set New Price Targets
Separately, Maxim Group assumed coverage on Intchains Group in a research note on Monday, April 7th. They issued a "buy" rating and a $8.00 price objective on the stock.
Get Our Latest Stock Analysis on Intchains Group
Intchains Group Price Performance
NASDAQ:ICG remained flat at $2.10 during mid-day trading on Friday. 10,361 shares of the company traded hands, compared to its average volume of 100,608. The firm has a market cap of $125.96 million, a P/E ratio of 19.09 and a beta of 1.79. Intchains Group has a 52-week low of $1.40 and a 52-week high of $12.04. The company has a fifty day simple moving average of $2.73 and a two-hundred day simple moving average of $3.88.
Intchains Group (NASDAQ:ICG - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Intchains Group had a return on equity of 4.77% and a net margin of 19.08%. The company had revenue of $10.16 million during the quarter, compared to analyst estimates of $14.88 million.
Institutional Trading of Intchains Group
A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC acquired a new stake in shares of Intchains Group Limited (NASDAQ:ICG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,518 shares of the company's stock, valued at approximately $35,000.
About Intchains Group
(
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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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