Research analysts at Maxim Group initiated coverage on shares of Intchains Group (NASDAQ:ICG - Get Free Report) in a report released on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $8.00 price target on the stock. Maxim Group's price target would suggest a potential upside of 377.61% from the stock's current price.
Intchains Group Price Performance
NASDAQ:ICG traded down $0.08 during trading hours on Monday, reaching $1.68. 30,900 shares of the company were exchanged, compared to its average volume of 99,931. The business has a 50 day moving average of $3.41 and a 200 day moving average of $4.18. Intchains Group has a 1-year low of $1.60 and a 1-year high of $12.04. The company has a market capitalization of $100.47 million, a P/E ratio of 15.23 and a beta of 1.79.
Intchains Group (NASDAQ:ICG - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $10.16 million for the quarter, compared to analyst estimates of $14.88 million. Intchains Group had a return on equity of 4.77% and a net margin of 19.08%.
Institutional Trading of Intchains Group
A hedge fund recently bought a new stake in Intchains Group stock. Citadel Advisors LLC bought a new position in shares of Intchains Group Limited (NASDAQ:ICG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,518 shares of the company's stock, valued at approximately $35,000.
Intchains Group Company Profile
(
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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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