Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG) saw a significant decline in short interest in 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 volume of 124,100 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, Benchmark increased their price objective on shares of 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 Stock Up 0.9 %

Shares of ICG traded up $0.04 during mid-day trading on Friday, reaching $4.28. 4,999 shares of the company’s stock were exchanged, compared to its average volume of 50,550. Intchains Group has a 52-week low of $3.21 and a 52-week high of $14.22. The company has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $7.07. The company has a market cap of $256.53 million, a price-to-earnings ratio of -42.40 and a beta of 0.78.

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

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.