Intchains Group (NASDAQ:ICG) Shares Down 4.3%

Intchains Group Limited (NASDAQ:ICG) shares fell 4.3% during mid-day trading on Tuesday . The company traded as low as $8.30 and last traded at $8.40. 4,260 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 16,589 shares. The stock had previously closed at $8.78.

Wall Street Analysts Forecast Growth

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

Intchains Group Stock Up 16.1 %

The company has a market cap of $610.77 million, a P/E ratio of -100.00 and a beta of 0.79. The business’s 50 day moving average is $6.86 and its 200 day moving average is $7.68.

Intchains Group (NASDAQ:ICG) last issued its quarterly earnings results on Thursday, August 15th. The company reported $0.12 earnings per share (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 for 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.