Intchains Group (NASDAQ:ICG) Announces Quarterly Earnings Results

Intchains Group (NASDAQ:ICG - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.18, Zacks reports. Intchains Group had a return on equity of 2.04% and a net margin of 6.64%.

Intchains Group Stock Performance

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ICG traded down $0.07 during trading on Thursday, reaching $1.01. 1,022,187 shares of the stock were exchanged, compared to its average volume of 151,611. The stock's 50 day moving average price is $1.56 and its two-hundred day moving average price is $2.01. Intchains Group has a twelve month low of $0.94 and a twelve month high of $12.04. The stock has a market cap of $60.97 million, a P/E ratio of 20.20 and a beta of 1.67.

Analyst Ratings Changes

ICG has been the topic of a number of research reports. Wall Street Zen downgraded Intchains Group from a "hold" rating to a "sell" rating in a report on Sunday, August 17th. Weiss Ratings reiterated a "sell (d)" rating on shares of Intchains Group in a research note on Wednesday, October 8th. Finally, Benchmark restated a "buy" rating on shares of Intchains Group in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $7.50.

Check Out Our Latest Research Report on ICG

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intchains Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought 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 SEC. The institutional investor bought 52,369 shares of the company's stock, valued at approximately $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.09% of Intchains Group as of its most recent filing with the SEC.

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.

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