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

Intchains Group Limited (NASDAQ:ICG) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 2,300 shares, a drop 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 presently 0.0 days.

Wall Street Analysts Forecast Growth

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

Intchains Group Stock Performance

Shares of ICG stock traded down $0.06 during midday trading on Friday, hitting $4.44. 12,457 shares of the company were exchanged, compared to its average volume of 47,617. The firm’s 50 day moving average price is $4.67 and its two-hundred day moving average price is $6.36. The firm has a market capitalization of $266.12 million, a P/E ratio of 39.91 and a beta of 0.83. Intchains Group has a 52 week low of $3.21 and a 52 week high of $14.22.

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.