Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report)'s share price dropped 9.4% during 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.
Wall Street Analyst Weigh In
Separately, Maxim Group dropped their price target on Intchains Group from $8.00 to $7.50 and set a "buy" rating on the stock in a report on Tuesday, May 27th.
View Our Latest Stock Analysis on Intchains Group
Intchains Group Price Performance
The company has a 50 day simple moving average of $2.19 and a 200-day simple moving average of $2.91. The stock has a market cap of $179.43 million, a P/E ratio of 37.38 and a beta of 1.71.
Intchains Group (NASDAQ:ICG - Get Free Report) last released its earnings results on Thursday, May 22nd. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.15). The company had revenue of $18.24 million during the quarter, compared to the consensus estimate of $125.65 million. Intchains Group had a net margin of 8.24% and a return on equity of 3.22%.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC purchased a new position in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,518 shares of the company's stock, valued at approximately $35,000.
Intchains Group Company Profile
(
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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