Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Decreases By 14.5%

Key Points

• Short interest dropped 14.5% in March to 157,702 shares for ICG, leaving a short-interest ratio of about 5.8 days and roughly 0.3% of shares sold short.
• Analyst and institutional signals are mixed — the consensus rating is "Hold" with a $5.25 average price target, while the stock trades around $1.16 with negative EPS (‑$0.15) and a market cap near $70 million after a revenue miss.

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 157,702 shares, a decline of 14.5% from the February 26th total of 184,523 shares. Based on an average trading volume of 27,397 shares, the short-interest ratio is presently 5.8 days. Approximately 0.3% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Intchains Group in a research report on Thursday, January 22nd. Benchmark dropped their price target on shares of Intchains Group from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. Finally, UBS Group reiterated a "neutral" rating on shares of Intchains Group in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $5.25.

Intchains Group Price Performance

ICG stock traded down $0.02 during mid-day trading on Tuesday, reaching $1.16. 2,165 shares of the company traded hands, compared to its average volume of 48,403. The company has a fifty day moving average price of $1.50 and a 200-day moving average price of $1.59. Intchains Group has a 52-week low of $0.93 and a 52-week high of $3.34. The company has a market capitalization of $70.12 million, a P/E ratio of -9.62 and a beta of 1.58.

Intchains Group (NASDAQ:ICG - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $5.16 million during the quarter, compared to the consensus estimate of $42.70 million. Intchains Group had a negative net margin of 24.68% and a negative return on equity of 5.29%.

Institutional Investors Weigh In On Intchains Group

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake in Intchains Group by 190.2% during the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company's stock valued at $135,000 after buying an additional 49,389 shares during the period. SmartHarvest Portfolios LLC purchased a new stake in shares of Intchains Group in the 4th quarter valued at about $121,000. Goldman Sachs Group Inc. raised its holdings in shares of Intchains Group by 509.5% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Intchains Group during the 1st quarter valued at about $142,000. Finally, Independent Advisor Alliance purchased a new position in shares of Intchains Group during the fourth quarter worth about $37,000.

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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