Short Interest in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) Decreases By 62.6%

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 45,564 shares, a decrease of 62.6% from the May 31st total of 121,794 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 102,428 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Independent Advisor Alliance bought a new position in shares of Intchains Group in the 4th quarter worth approximately $37,000. 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 purchasing an additional 49,389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Intchains Group during the first quarter valued at approximately $142,000. SmartHarvest Portfolios LLC bought a new stake in shares of Intchains Group during the fourth quarter valued at approximately $121,000. Finally, Goldman Sachs Group Inc. grew its stake in Intchains Group by 509.5% in the fourth 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 during the period.

Analyst Upgrades and Downgrades

Separately, Benchmark dropped their price target on Intchains Group from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Intchains Group Price Performance

Shares of NASDAQ ICG opened at $0.68 on Friday. Intchains Group has a 1 year low of $0.60 and a 1 year high of $3.25. The stock has a market capitalization of $40.99 million, a P/E ratio of -5.63 and a beta of 1.08. The company’s 50-day moving average is $1.03 and its 200 day moving average is $1.38.

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.