Intchains Group (NASDAQ:ICG) Price Target Cut to $2.00 by Analysts at Benchmark

Intchains Group (NASDAQ:ICGGet Free Report) had its target price reduced by analysts at Benchmark from $3.00 to $2.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 136.69% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Intchains Group in a research note on Tuesday, July 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Intchains Group currently has an average rating of “Hold” and an average price target of $2.00.

Read Our Latest Report on Intchains Group

Intchains Group Stock Performance

Intchains Group stock opened at $0.84 on Friday. The firm has a market capitalization of $51.30 million, a PE ratio of -7.04 and a beta of 1.05. Intchains Group has a one year low of $0.60 and a one year high of $2.28. The stock’s 50 day moving average price is $0.82 and its 200 day moving average price is $1.10.

Intchains Group (NASDAQ:ICGGet Free Report) last posted its quarterly earnings data on Thursday, August 20th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.15). The firm had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $5.17 million. Intchains Group had a negative net margin of 24.68% and a negative return on equity of 5.29%.

Hedge Funds Weigh In On Intchains Group

Several large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Intchains Group during the first quarter worth $142,000. Independent Advisor Alliance bought a new position in Intchains Group in the fourth quarter worth about $37,000. Goldman Sachs Group Inc. boosted its stake in Intchains Group by 509.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock valued at $180,000 after acquiring an additional 84,228 shares during the period. SmartHarvest Portfolios LLC bought a new position in shares of Intchains Group during the fourth quarter valued at approximately $121,000. Finally, XTX Topco Ltd raised its position in shares of Intchains Group by 190.2% during the 4th quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock worth $135,000 after purchasing an additional 49,389 shares during the period.

Intchains Group Company Profile

(Get Free Report)

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.

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