Intchains Group (NASDAQ:ICG) Sees Unusually-High Trading Volume

Intchains Group Limited (NASDAQ:ICG) shares saw unusually-high trading volume on Wednesday . Approximately 54,043 shares were traded during trading, an increase of 164% from the previous session’s volume of 20,478 shares.The stock last traded at $8.60 and had previously closed at $10.16.

Wall Street Analyst Weigh In

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

Intchains Group Price Performance

The company’s 50 day simple moving average is $6.90 and its 200 day simple moving average is $7.69. The company has a market capitalization of $531.07 million, a PE ratio of -81.20 and a beta of 0.79.

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

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.