Intermediate Capital Group (LON:ICG) Shares Down 1.7% - Here's Why

Intermediate Capital Group plc (LON:ICG - Get Free Report) dropped 1.7% on Wednesday . The company traded as low as GBX 2,070 ($26.88) and last traded at GBX 2,086 ($27.08). Approximately 1,059,538 shares traded hands during trading, a decline of 39% from the average daily volume of 1,748,106 shares. The stock had previously closed at GBX 2,122 ($27.55).

Wall Street Analysts Forecast Growth

ICG has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on Intermediate Capital Group in a research note on Wednesday. They set a "buy" rating and a GBX 2,600 ($33.76) price objective for the company. Citigroup restated a "top pick" rating on shares of Intermediate Capital Group in a research note on Friday, June 28th.

Intermediate Capital Group Stock Up 1.5 %

The business's 50 day moving average price is GBX 2,166.94. The firm has a market cap of £6.16 billion, a P/E ratio of 1,328.75 and a beta of 1.97.

About Intermediate Capital Group

We are a provider of integrated solutions consisting of high-performance computing ASIC chips and ancillary software and hardware for blockchain applications. We utilize a fabless business model and specialize in the front-end and back-end of IC design, which are the major components of the IC product development chain.