Intchains Group (NASDAQ:ICG) Earns Buy Rating from Analysts at Maxim Group

Analysts at Maxim Group started coverage on shares of Intchains Group (NASDAQ:ICG) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 272.09% from the stock’s previous close.

Intchains Group Stock Down 1.8 %

Intchains Group stock opened at $2.15 on Monday. The company’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $4.44. The stock has a market cap of $128.96 million, a P/E ratio of 19.55 and a beta of 1.79. Intchains Group has a twelve month low of $1.91 and a twelve month high of $12.04.

Intchains Group (NASDAQ:ICG) last announced its earnings results on Thursday, February 27th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Intchains Group had a return on equity of 4.77% and a net margin of 19.08%. The firm had revenue of $10.16 million for the quarter, compared to the consensus estimate of $14.88 million.

Hedge Funds Weigh In On 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) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,518 shares of the company’s stock, valued at approximately $35,000.

Intchains Group Company Profile

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.