Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report)'s share price dropped 9.4% during mid-day trading on Thursday . The stock traded as low as $2.78 and last traded at $2.81. Approximately 360,105 shares changed hands during mid-day trading, an increase of 170% from the average daily volume of 133,281 shares. The stock had previously closed at $3.10.
Analyst Upgrades and Downgrades
Separately, Maxim Group reduced their target price on shares of Intchains Group from $8.00 to $7.50 and set a "buy" rating for the company in a report on Tuesday, May 27th.
Read Our Latest Stock Analysis on ICG
Intchains Group Price Performance
The company's 50 day moving average price is $2.19 and its 200 day moving average price is $2.93. The firm has a market capitalization of $168.63 million, a P/E ratio of 35.13 and a beta of 1.71.
Intchains Group (NASDAQ:ICG - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.15). The company had revenue of $18.24 million for the quarter, compared to the consensus estimate of $125.65 million. Intchains Group had a return on equity of 3.22% and a net margin of 8.24%.
Institutional Investors Weigh In On Intchains Group
An institutional investor recently bought a new position in Intchains Group stock. Citadel Advisors LLC purchased a new stake in shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,518 shares of the company's stock, valued at approximately $35,000.
About Intchains Group
(
Get Free Report)
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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