Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Sees Significant Growth in Short Interest

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 188,619 shares, a growth of 27.7% from the December 15th total of 147,695 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 102,221 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 102,221 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.3% of the shares of the stock are sold short.

Intchains Group Stock Performance

Intchains Group stock traded up $0.03 during mid-day trading on Monday, hitting $2.03. The company’s stock had a trading volume of 114,904 shares, compared to its average volume of 76,349. The company has a 50 day moving average of $1.68 and a 200-day moving average of $1.90. Intchains Group has a one year low of $0.93 and a one year high of $4.36. The stock has a market cap of $123.24 million, a PE ratio of 9.67 and a beta of 1.39.

Hedge Funds Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 52,369 shares of the company’s stock, valued at approximately $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Intchains Group as of its most recent filing with the Securities & Exchange Commission.

Wall Street Analyst Weigh In

Several research firms recently commented on ICG. Weiss Ratings reiterated a “sell (d)” rating on shares of Intchains Group in a research report on Wednesday, October 8th. Benchmark restated a “buy” rating on shares of Intchains Group in a report on Monday, December 8th. Wall Street Zen upgraded Intchains Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, UBS Group reiterated a “neutral” rating on shares of Intchains Group in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.50.

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.