Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Decreases By 37.0%

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 28,690 shares, a decrease of 37.0% from the June 15th total of 45,564 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 34,028 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Intchains Group in a report on Tuesday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intchains Group has an average rating of “Hold” and an average price target of $3.00.

Intchains Group Stock Performance

Shares of ICG stock traded down $0.00 on Friday, reaching $0.82. 19,140 shares of the company were exchanged, compared to its average volume of 92,371. Intchains Group has a 1 year low of $0.60 and a 1 year high of $3.09. The business has a 50-day moving average price of $0.87 and a 200 day moving average price of $1.29. The company has a market cap of $49.72 million, a price-to-earnings ratio of -6.82 and a beta of 1.17.

Hedge Funds Weigh In On Intchains Group

A number of hedge funds have recently made changes to their positions in ICG. Independent Advisor Alliance purchased a new position in shares of Intchains Group in the fourth quarter valued at approximately $37,000. SmartHarvest Portfolios LLC acquired a new position in Intchains Group in the 4th quarter valued at $121,000. XTX Topco Ltd raised its stake in Intchains Group by 190.2% in the 4th quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock valued at $135,000 after purchasing an additional 49,389 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Intchains Group in the 1st quarter valued at $142,000. Finally, Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 84,228 shares in the last quarter.

About Intchains Group

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.