Intchains Group Limited (NASDAQ:ICG) Sees Large Decline in Short Interest

Intchains Group Limited (NASDAQ:ICG) was the target of a significant decline in short interest in the month of 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 daily trading volume, of 123,700 shares, the short-interest ratio is currently 0.0 days.

Intchains Group Trading Down 1.3 %

Shares of Intchains Group stock traded down $0.06 on Friday, reaching $4.44. 12,457 shares of the company were exchanged, compared to its average volume of 47,617. The company has a market capitalization of $266.12 million, a price-to-earnings ratio of 39.91 and a beta of 0.83. The company has a 50-day moving average of $4.67 and a 200 day moving average of $6.36. Intchains Group has a one year low of $3.21 and a one year high of $14.22.

Wall Street Analyst Weigh In

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

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.