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

Benchmark assumed coverage on shares of Intchains Group (NASDAQ:ICG) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Benchmark’s target price points to a potential upside of 46.41% from the company’s current price.

Intchains Group Stock Performance

Shares of ICG opened at $6.83 on Friday. The stock has a market capitalization of $409.39 million, a PE ratio of -68.30 and a beta of 0.72. The company’s fifty day moving average is $7.94 and its 200 day moving average is $9.41. Intchains Group has a fifty-two week low of $5.81 and a fifty-two week high of $14.22.

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

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.