Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Increases By 27.7%

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the recipient of a large growth in short interest in the month of 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. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 102,221 shares, the short-interest ratio is currently 1.8 days. Based on an average daily trading volume, of 102,221 shares, the short-interest ratio is currently 1.8 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Marex Group plc acquired a new stake in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,324 shares of the company’s stock, valued at approximately $105,000. Marex Group plc owned 0.10% of Intchains Group at the end of the most recent reporting period.

Intchains Group Stock Performance

Intchains Group stock traded up $0.03 during midday trading on Friday, reaching $2.03. 114,904 shares of the company’s stock were exchanged, compared to its average volume of 76,349. Intchains Group has a 52 week low of $0.93 and a 52 week high of $4.36. The firm has a market cap of $123.24 million, a price-to-earnings ratio of 9.67 and a beta of 1.39. The stock’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.90.

Wall Street Analysts Forecast Growth

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