Intchains Group (NASDAQ:ICG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Intchains Group (NASDAQ:ICG) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other research analysts have also recently issued reports on ICG. Weiss Ratings restated a “sell (d)” rating on shares of Intchains Group in a research note on Wednesday, October 8th. Benchmark reiterated a “buy” rating on shares of Intchains Group in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.50.

Intchains Group Price Performance

Shares of ICG stock opened at $1.52 on Friday. The business has a fifty day moving average of $1.51 and a 200 day moving average of $1.98. Intchains Group has a 1 year low of $0.93 and a 1 year high of $12.04. The firm has a market capitalization of $91.76 million, a price-to-earnings ratio of 30.40 and a beta of 1.67.

Institutional Trading of Intchains Group

An institutional investor recently bought a new position in Intchains Group stock. Marex Group plc purchased a new stake in shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 58,324 shares of the company’s stock, valued at approximately $105,000. Marex Group plc owned approximately 0.10% of Intchains Group at the end of the most recent quarter.

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.