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

Intchains Group Limited (NASDAQ:ICG) 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 traded.

Wall Street Analysts Forecast Growth

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

Intchains Group Price Performance

The firm has a market cap of $503.48 million, a PE ratio of -85.50 and a beta of 0.79. The company has a 50 day simple moving average of $6.84 and a 200-day simple moving average of $7.68.

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 firm 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.