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

Intchains Group Limited (NASDAQ:ICG) saw a large decline in short interest in 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 trading volume of 123,700 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price target 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 6.1 %

Shares of NASDAQ ICG traded up $0.26 during midday trading on Wednesday, hitting $4.50. The stock had a trading volume of 62,873 shares, compared to its average volume of 47,779. The stock has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $6.39. The company has a market capitalization of $269.73 million, a PE ratio of 38.19 and a beta of 0.83. Intchains Group has a 1 year low of $3.21 and a 1 year high of $14.22.

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.