Intchains Group (NASDAQ:ICG) Issues Earnings Results

Intchains Group (NASDAQ:ICG) posted its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.15), FiscalAI reports. Intchains Group had a negative return on equity of 5.29% and a negative net margin of 24.68%.

Intchains Group Stock Performance

Shares of Intchains Group stock traded down $0.04 during midday trading on Thursday, reaching $0.84. 873,962 shares of the company’s stock traded hands, compared to its average volume of 199,542. The stock has a 50 day moving average of $0.81 and a 200-day moving average of $1.11. Intchains Group has a 12 month low of $0.60 and a 12 month high of $2.28. The company has a market cap of $51.30 million, a PE ratio of -7.04 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Intchains Group during the first quarter valued at about $142,000. SmartHarvest Portfolios LLC bought a new position in shares of Intchains Group in the 4th quarter worth approximately $121,000. XTX Topco Ltd lifted its stake in shares of Intchains Group by 190.2% in the 4th 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, Goldman Sachs Group Inc. boosted its position in shares of Intchains Group by 509.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock valued at $180,000 after purchasing an additional 84,228 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Intchains Group in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.00.

About Intchains Group

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.