Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,800 shares, a decrease of 62.5% from the August 31st total of 4,800 shares. Based on an average trading volume of 40,000 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

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

Intchains Group Price Performance

NASDAQ ICG traded down $1.75 on Wednesday, reaching $8.41. The stock had a trading volume of 95,483 shares, compared to its average volume of 20,717. The company has a market cap of $504.08 million, a P/E ratio of -87.90 and a beta of 0.79. The firm has a fifty day moving average of $6.90 and a two-hundred day moving average of $7.69. Intchains Group has a 1-year low of $5.39 and a 1-year high of $14.22.

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

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.