Intchains Group (NASDAQ:ICG) Stock Price Up 13%

Intchains Group Limited (NASDAQ:ICG)’s share price shot up 13% during mid-day trading on Thursday . The stock traded as high as $9.56 and last traded at $9.50. 9,643 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 20,671 shares. The stock had previously closed at $8.41.

Wall Street Analyst Weigh In

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

Intchains Group Trading Up 4.2 %

The firm has a market capitalization of $525.06 million, a P/E ratio of -92.20 and a beta of 0.79. The business’s 50 day simple moving average is $6.89 and its two-hundred day simple moving average is $7.69.

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

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.