Shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report) shot up 13% during trading on Monday . The company traded as high as $2.16 and last traded at $2.00. 1,142,443 shares traded hands during trading, an increase of 659% from the average session volume of 150,470 shares. The stock had previously closed at $1.77.
Wall Street Analyst Weigh In
A number of research firms have commented on ICG. Wall Street Zen cut shares of Intchains Group from a "hold" rating to a "sell" rating in a research report on Sunday, August 17th. Maxim Group reduced 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 report on Tuesday, May 27th. Finally, Benchmark reaffirmed a "buy" rating on shares of Intchains Group in a research report on Friday, August 15th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $7.50.
View Our Latest Report on Intchains Group
Intchains Group Price Performance
The firm has a market cap of $111.62 million, a P/E ratio of 37.20 and a beta of 1.77. The company's 50-day moving average is $2.38 and its two-hundred day moving average is $2.40.
Intchains Group (NASDAQ:ICG - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Intchains Group had a net margin of 6.64% and a return on equity of 2.04%. The firm had revenue of $6.00 million during the quarter, compared to analyst estimates of $104.89 million.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ICG. Marex Group plc acquired a new position in shares of Intchains Group in the second quarter valued at approximately $105,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Intchains Group during the 1st quarter worth approximately $142,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Intchains Group during the 4th quarter worth 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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