Intchains Group (NASDAQ:ICG) Price Target Cut to $3.00 by Analysts at Benchmark

Intchains Group (NASDAQ:ICG) had its price target cut by Benchmark from $4.00 to $3.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Intchains Group in a research report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating on shares of Intchains Group in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded shares of Intchains Group from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.25.

Intchains Group Stock Performance

Shares of NASDAQ ICG opened at $1.23 on Tuesday. The business’s 50-day simple moving average is $1.69 and its 200-day simple moving average is $1.65. Intchains Group has a 52 week low of $0.93 and a 52 week high of $4.19. The firm has a market cap of $74.67 million, a price-to-earnings ratio of -10.25 and a beta of 1.58.

Intchains Group (NASDAQ:ICG) last posted its earnings results on Thursday, February 26th. The company reported ($0.15) earnings per share for the quarter. The company had revenue of $5.16 million during the quarter, compared to analyst estimates of $42.70 million. Intchains Group had a negative return on equity of 5.29% and a negative net margin of 24.68%.

Hedge Funds Weigh In On Intchains Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independent Advisor Alliance acquired a new position in Intchains Group in the 4th quarter valued at approximately $37,000. Marex Group plc acquired a new stake in shares of Intchains Group during the 2nd quarter worth approximately $105,000. SmartHarvest Portfolios LLC bought a new stake in shares of Intchains Group during the fourth quarter valued at approximately $121,000. XTX Topco Ltd increased its position in shares of Intchains Group by 190.2% during the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock valued at $135,000 after purchasing an additional 49,389 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Intchains Group in the first quarter valued at $142,000.

Intchains Group Company Profile

Intchains Group Ltd (NASDAQ: ICG) is a technology company specializing in blockchain-based big data solutions. The company offers a suite of products and services aimed at enhancing data security, traceability and certification across diverse industries. Its core offerings include blockchain-powered data rights management, digital certificate issuance, supply-chain traceability platforms and analytics tools that leverage immutable ledgers to ensure data integrity.

Established in 2016 and headquartered in Beijing, Intchains Group serves a range of clients including government agencies, logistics providers, manufacturers and financial institutions.