Intchains Group Limited (NASDAQ:ICG - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 31,900 shares, a growth of 243.0% from the May 15th total of 9,300 shares. Based on an average trading volume of 33,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the company are short sold.
Intchains Group Stock Down 7.7%
Shares of Intchains Group stock traded down $0.15 on Friday, reaching $1.81. The company's stock had a trading volume of 70,172 shares, compared to its average volume of 104,271. The company has a market capitalization of $108.62 million, a P/E ratio of 16.46 and a beta of 1.88. Intchains Group has a 52-week low of $1.40 and a 52-week high of $12.04. The stock has a 50-day moving average price of $2.08 and a 200-day moving average price of $3.49.
Intchains Group (NASDAQ:ICG - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.15). The business had revenue of $18.24 million during the quarter, compared to analysts' expectations of $125.65 million. Intchains Group had a net margin of 19.08% and a return on equity of 4.77%.
Institutional Trading of Intchains Group
A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC bought a new stake in Intchains Group Limited (NASDAQ:ICG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,518 shares of the company's stock, valued at approximately $35,000.
Analyst Ratings Changes
Separately, Maxim Group decreased their price target on Intchains Group from $8.00 to $7.50 and set a "buy" rating for the company in a report on Tuesday, May 27th.
Read Our Latest Report on ICG
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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