Intchains Group (NASDAQ:ICG) Issues Quarterly Earnings Results

Intchains Group (NASDAQ:ICG) issued its quarterly earnings results on Thursday. The company reported ($0.18) 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%.The business had revenue of $0.82 million for the quarter, compared to analyst estimates of $5.17 million.

Intchains Group Price Performance

Shares of ICG traded down $0.04 on Thursday, reaching $0.84. 1,001,306 shares of the stock traded hands, compared to its average volume of 199,542. The stock’s 50-day moving average price is $0.81 and its 200-day moving average price is $1.11. The firm has a market cap of $51.30 million, a price-to-earnings ratio of -7.04 and a beta of 1.05. Intchains Group has a 12 month low of $0.60 and a 12 month high of $2.28.

Institutional Investors Weigh In On Intchains Group

A number of institutional investors have recently bought and sold shares of the business. SmartHarvest Portfolios LLC acquired a new position in shares of Intchains Group in the 4th quarter valued at $121,000. XTX Topco Ltd increased 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Intchains Group during the 1st quarter worth about $142,000. Finally, Goldman Sachs Group Inc. boosted its position 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 buying an additional 84,228 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Intchains Group in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.