Intchains Group (NASDAQ:ICG) Sees Large Volume Increase

Intchains Group Limited (NASDAQ:ICG) saw unusually-strong trading volume on Thursday . Approximately 27,987 shares were traded during mid-day trading, an increase of 192% from the previous session’s volume of 9,571 shares.The stock last traded at $8.45 and had previously closed at $8.25.

Analysts Set New Price Targets

Separately, Benchmark began coverage on Intchains Group in a report on Friday, June 21st. They issued a “buy” rating and a $10.00 price objective on the stock.

Intchains Group Stock Up 0.8 %

The company has a market cap of $513.02 million, a PE ratio of -85.59 and a beta of 0.72. The business has a 50-day simple moving average of $7.87 and a 200-day simple moving average of $9.35.

Intchains Group (NASDAQ:ICG) last released its earnings results on Thursday, May 16th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $3.36 million during the quarter. Intchains Group had a negative net margin of 56.73% and a negative return on equity of 4.84%.

About Intchains Group

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.