Intchains Group Limited (NASDAQ:ICG) Short Interest Update

Intchains Group Limited (NASDAQ:ICG) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 19,000 shares, a drop of 57.4% from the January 31st total of 44,600 shares. Based on an average daily volume of 215,600 shares, the days-to-cover ratio is currently 0.1 days.

Intchains Group Stock Up 3.1 %

Shares of ICG stock traded up $0.12 during mid-day trading on Friday, reaching $3.95. 42,982 shares of the stock traded hands, compared to its average volume of 195,930. The stock’s fifty day simple moving average is $4.42 and its two-hundred day simple moving average is $5.01. Intchains Group has a 1-year low of $2.80 and a 1-year high of $12.04. The company has a market cap of $236.92 million, a price-to-earnings ratio of 35.91 and a beta of 1.35.

Intchains Group (NASDAQ:ICG) last announced its quarterly earnings results 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 net margin of 19.08% and a return on equity of 4.77%. The firm had revenue of $10.16 million for the quarter, compared to analyst estimates of $14.88 million.

Institutional Trading of Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC acquired a new position in Intchains Group Limited (NASDAQ:ICG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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.