Intchains Group (NASDAQ:ICG) Shares Gap Up to $7.50

Intchains Group Limited (NASDAQ:ICG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.50, but opened at $7.70. Intchains Group shares last traded at $8.50, with a volume of 18,571 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their target price on Intchains Group from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 16th.

Intchains Group Stock Up 12.0 %

The business has a fifty day simple moving average of $6.84 and a 200-day simple moving average of $7.68. The firm has a market cap of $503.48 million, a P/E ratio of -85.50 and a beta of 0.79.

Intchains Group (NASDAQ:ICG) last posted its quarterly earnings data on Thursday, August 15th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $16.93 million during the quarter. Intchains Group had a return on equity of 2.57% and a net margin of 12.96%.

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.