Intchains Group (NASDAQ:ICG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Intchains Group reported earnings of $0.09 per share, missing analysts' expectations of $0.11 by $0.02.
• The company's stock price decreased by 2% to $2.41, while shares have seen a 52-week range from $1.19 to $12.04.
• Analysts have adjusted their price targets for Intchains Group, with Maxim Group lowering its target from $8.00 to $7.50, maintaining a "buy" rating.

Intchains Group (NASDAQ:ICG - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02), Zacks reports. Intchains Group had a return on equity of 3.22% and a net margin of 8.24%.

Intchains Group Trading Down 2.0%

NASDAQ:ICG traded down $0.05 on Thursday, hitting $2.41. The company had a trading volume of 104,673 shares, compared to its average volume of 135,553. Intchains Group has a 52 week low of $1.19 and a 52 week high of $12.04. The firm has a 50 day moving average of $2.34 and a two-hundred day moving average of $2.73. The stock has a market capitalization of $144.62 million, a price-to-earnings ratio of 30.13 and a beta of 1.79.

Analysts Set New Price Targets

Several equities analysts recently commented on ICG shares. Maxim Group dropped their price objective on shares of Intchains Group from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Wall Street Zen raised shares of Intchains Group to a "hold" rating in a research note on Saturday, August 9th.

Institutional Investors Weigh In On Intchains Group

An institutional investor recently bought a new position in Intchains Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 52,369 shares of the company's stock, valued at approximately $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.09% of Intchains Group at the end of the most recent quarter.

Intchains Group Company Profile

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.

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