Intchains Group (NASDAQ:ICG) Trading 4.6% Higher

Shares of Intchains Group Limited (NASDAQ:ICG) rose 4.6% during trading on Wednesday . The company traded as high as $8.64 and last traded at $8.61. Approximately 13,618 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 12,979 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

Separately, Benchmark initiated coverage on shares of Intchains Group in a report on Friday, June 21st. They set a “buy” rating and a $10.00 price target on the stock.

Intchains Group Price Performance

The company’s fifty day moving average is $7.77 and its two-hundred day moving average is $8.95.

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

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.