Short Interest in Intchains Group Limited (NASDAQ:ICG) Decreases By 41.1%

Intchains Group Limited (NASDAQ:ICG) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 11,200 shares, a decline of 41.1% from the February 13th total of 19,000 shares. Based on an average trading volume of 205,500 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Intchains Group Price Performance

Shares of NASDAQ:ICG opened at $3.70 on Monday. Intchains Group has a 1 year low of $2.80 and a 1 year high of $12.04. The firm has a market capitalization of $222.17 million, a PE ratio of 33.68 and a beta of 1.35. The business’s 50 day moving average price is $4.05 and its 200-day moving average price is $4.87.

Intchains Group (NASDAQ:ICG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Intchains Group had a return on equity of 4.77% and a net margin of 19.08%. The company had revenue of $10.16 million for the quarter, compared to analysts’ expectations of $14.88 million.

Hedge Funds Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC bought a new stake in Intchains Group Limited (NASDAQ:ICG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,518 shares of the company’s stock, valued at approximately $35,000.

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.