Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Short Interest Down 37.0% in June

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) was the target of a large decrease in short interest in 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. Based on an average daily volume of 34,028 shares, the short-interest ratio is presently 0.8 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ICG. Goldman Sachs Group Inc. increased its holdings in Intchains Group by 509.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock worth $180,000 after purchasing an additional 84,228 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in shares of Intchains Group in the fourth quarter valued at approximately $121,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Intchains Group in the first quarter valued at approximately $142,000. XTX Topco Ltd boosted its position in shares of 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 last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Intchains Group during the fourth quarter valued at approximately $37,000.

Intchains Group Stock Down 1.2%

ICG traded down $0.01 during trading on Friday, hitting $0.81. The company’s stock had a trading volume of 10,222 shares, compared to its average volume of 215,840. The firm has a market capitalization of $49.18 million, a P/E ratio of -6.75 and a beta of 1.17. Intchains Group has a twelve month low of $0.60 and a twelve month high of $3.09. The stock’s fifty day moving average price is $0.88 and its 200-day moving average price is $1.29.

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.