Intchains Group (NASDAQ:ICG) Posts Earnings Results, Misses Expectations By $0.15 EPS

Intchains Group (NASDAQ:ICG) posted its quarterly earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.15), FiscalAI reports. Intchains Group had a negative return on equity of 5.29% and a negative net margin of 24.68%.

Intchains Group Stock Down 4.0%

NASDAQ:ICG traded down $0.04 on Thursday, reaching $0.84. 873,962 shares of the company’s stock traded hands, compared to its average volume of 199,542. The stock has a 50-day simple moving average of $0.81 and a 200-day simple moving average of $1.11. Intchains Group has a 12 month low of $0.60 and a 12 month high of $2.28. The firm has a market cap of $51.30 million, a PE ratio of -7.04 and a beta of 1.05.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in Intchains Group by 509.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock valued at $180,000 after buying an additional 84,228 shares in the last quarter. XTX Topco Ltd increased its holdings in Intchains Group by 190.2% in the 4th quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock valued at $135,000 after acquiring an additional 49,389 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new stake in Intchains Group in the 4th quarter worth $121,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Intchains Group during the 1st quarter valued at about $142,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Intchains Group in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

Intchains Group Company Profile

Intchains Group Ltd (NASDAQ: ICG) is a technology company specializing in blockchain-based big data solutions. The company offers a suite of products and services aimed at enhancing data security, traceability and certification across diverse industries. Its core offerings include blockchain-powered data rights management, digital certificate issuance, supply-chain traceability platforms and analytics tools that leverage immutable ledgers to ensure data integrity.

Established in 2016 and headquartered in Beijing, Intchains Group serves a range of clients including government agencies, logistics providers, manufacturers and financial institutions.