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

Intchains Group Limited (NASDAQ:ICG) saw a significant decline in short interest in 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. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 205,500 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Intchains Group

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

Intchains Group Price Performance

Shares of ICG opened at $3.70 on Monday. The business’s 50 day simple moving average is $4.05 and its 200-day simple moving average is $4.87. The company has a market capitalization of $222.17 million, a P/E ratio of 33.68 and a beta of 1.35. Intchains Group has a one year low of $2.80 and a one year high of $12.04.

Intchains Group (NASDAQ:ICG) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.03 EPS 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 business had revenue of $10.16 million during the quarter, compared to the consensus estimate of $14.88 million.

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.