Intchains Group (ICG) Expected to Announce Earnings on Thursday

Intchains Group (NASDAQ:ICG) is projected to release its resultson Thursday, November 12th. Analysts expect Intchains Group to announce earnings of $0.0822 per share and revenue of $23.09 million for the quarter.

Intchains Group (NASDAQ:ICG) last announced its earnings results on Thursday, August 20th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.15). The firm had revenue of $0.82 million for the quarter, compared to analyst estimates of $5.17 million.

Intchains Group Trading Down 1.1%

ICG opened at $1.34 on Thursday. Intchains Group has a twelve month low of $0.60 and a twelve month high of $2.28. The firm has a market cap of $81.65 million, a price-to-earnings ratio of -11.21 and a beta of 0.92. The company has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $1.15.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ICG shares. Maxim Group reiterated a “buy” rating and issued a $3.00 price target on shares of Intchains Group in a research note on Monday, August 24th. Weiss Ratings restated a “sell (d)” rating on shares of Intchains Group in a research note on Monday, October 12th. Finally, Benchmark decreased their price objective on shares of Intchains Group from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intchains Group presently has a consensus rating of “Hold” and an average target price of $2.50.

About Intchains Group

Intchains Group Limited is a fabless integrated circuit design company focused primarily on application-specific integrated circuit (ASIC) chips and related solutions for blockchain and other high-performance computing applications. The company develops chip designs and supporting technologies rather than manufacturing semiconductors directly.

Its offerings include ASIC chips, blockchain computing equipment and related hardware and software solutions. These products are intended to support specialized computing tasks, including cryptocurrency mining and other applications that require high-performance, purpose-built processing capabilities.

Intchains Group is incorporated in the Cayman Islands and conducts its operating activities through subsidiaries in China.