Intchains Group Limited (NASDAQ:ICG) Sees Large Increase in Short Interest

Intchains Group Limited (NASDAQ:ICG) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 22,500 shares, a growth of 125.0% from the March 15th total of 10,000 shares. Based on an average daily trading volume, of 33,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company’s shares are short sold.

Intchains Group Stock Down 0.6 %

ICG stock opened at $1.67 on Friday. The company has a market cap of $100.17 million, a price-to-earnings ratio of 15.18 and a beta of 1.79. The business has a fifty day simple moving average of $3.22 and a 200-day simple moving average of $4.07. Intchains Group has a 52 week low of $1.60 and a 52 week high of $12.04.

Intchains Group (NASDAQ:ICG) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.03 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 firm had revenue of $10.16 million during the quarter, compared to analysts’ expectations of $14.88 million.

Analysts Set New Price Targets

Separately, Maxim Group began coverage on shares of Intchains Group in a report on Monday, April 7th. They set a “buy” rating and a $8.00 price objective on the stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC bought a new stake in shares of Intchains Group Limited (NASDAQ:ICG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,518 shares of the company’s stock, valued at approximately $35,000.

Intchains Group Company Profile

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.