Intchains Group (NASDAQ:ICG) Issues Earnings Results

Intchains Group (NASDAQ:ICG) issued its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15), Zacks reports. Intchains Group had a return on equity of 4.77% and a net margin of 19.08%. The business had revenue of $18.24 million during the quarter, compared to analyst estimates of $125.65 million.

Intchains Group Trading Down 19.7%

Shares of NASDAQ:ICG opened at $2.16 on Friday. The stock’s 50-day moving average price is $2.34 and its two-hundred day moving average price is $3.70. Intchains Group has a 12-month low of $1.40 and a 12-month high of $12.04. The firm has a market cap of $129.56 million, a price-to-earnings ratio of 19.64 and a beta of 1.91.

Institutional Trading of Intchains Group

An institutional investor recently bought a new position in Intchains Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Intchains Group Limited (NASDAQ:ICG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 52,369 shares of the company’s stock, valued at approximately $142,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.09% of Intchains Group at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Maxim Group assumed coverage on Intchains Group in a research note on Monday, April 7th. They issued a “buy” rating and a $8.00 price target on the stock.

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.