Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 41,400 shares, a decline of 82.8% from the September 30th total of 240,300 shares. Based on an average daily trading volume, of 124,100 shares, the days-to-cover ratio is currently 0.3 days.

Intchains Group Stock Performance

ICG traded up $0.04 during trading on Friday, hitting $4.28. The stock had a trading volume of 4,999 shares, compared to its average volume of 50,550. Intchains Group has a twelve month low of $3.21 and a twelve month high of $14.22. The firm has a market capitalization of $256.53 million, a P/E ratio of -42.40 and a beta of 0.78. The company’s 50-day moving average price is $5.94 and its 200 day moving average price is $7.07.

Intchains Group (NASDAQ:ICG) last posted its quarterly earnings results on Thursday, August 15th. The company reported $0.12 earnings per share (EPS) for the quarter. Intchains Group had a net margin of 12.96% and a return on equity of 2.57%. The firm had revenue of $16.93 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their target price on Intchains Group from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 16th.

Intchains Group Company Profile

Intchains Group Limited designs and sells application-specific integrated circuit chips for blockchain applications in the People's Republic of China. The company also offers ancillary software, hardware, and other products. It serves distributors. Intchains Group Limited was founded in 2017 and is based in Pudong, China.