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

Intchains Group Limited (NASDAQ:ICG) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 11,200 shares, a drop of 41.1% from the February 13th total of 19,000 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 205,500 shares, the days-to-cover ratio is currently 0.1 days.

Intchains Group Trading Up 1.3 %

Shares of NASDAQ ICG opened at $3.89 on Friday. Intchains Group has a 1 year low of $2.80 and a 1 year high of $12.04. The firm’s 50-day moving average is $4.05 and its 200-day moving average is $4.88. The firm has a market capitalization of $233.33 million, a PE ratio of 35.37 and a beta of 1.35.

Intchains Group (NASDAQ:ICG) last released its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate 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 position in shares of Intchains Group Limited (NASDAQ:ICG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.