Intchains Group (NASDAQ:ICG) Price Target Lowered to $7.50 at Maxim Group

Intchains Group (NASDAQ:ICG) had its price target decreased by investment analysts at Maxim Group from $8.00 to $7.50 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 234.08% from the company’s previous close.

Intchains Group Trading Up 3.9%

NASDAQ ICG traded up $0.09 on Tuesday, reaching $2.25. The company’s stock had a trading volume of 30,830 shares, compared to its average volume of 102,786. Intchains Group has a 52 week low of $1.40 and a 52 week high of $12.04. The firm has a market cap of $134.66 million, a PE ratio of 20.41 and a beta of 1.91. The business has a 50-day moving average price of $2.31 and a 200 day moving average price of $3.69.

Intchains Group (NASDAQ:ICG) last posted its earnings results on Thursday, May 22nd. The company reported ($0.08) 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 4.77% and a net margin of 19.08%.

Institutional Investors Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC acquired a new stake in Intchains Group Limited (NASDAQ:ICG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,518 shares of the company’s stock, valued at approximately $35,000.

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.