Short Interest in Intchains Group Limited (NASDAQ:ICG) Decreases By 88.6%

Intchains Group Limited (NASDAQ:ICG) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,300 shares, a decline of 88.6% from the October 31st total of 20,100 shares. Based on an average daily volume of 123,700 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

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

Intchains Group Stock Performance

Shares of ICG stock traded down $0.06 on Friday, reaching $4.44. 12,457 shares of the company were exchanged, compared to its average volume of 47,617. The company has a market cap of $266.12 million, a price-to-earnings ratio of 39.91 and a beta of 0.83. Intchains Group has a 1 year low of $3.21 and a 1 year high of $14.22. The business has a 50-day moving average price of $4.67 and a 200 day moving average price of $6.36.

About Intchains Group

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.