Intchains Group (NASDAQ:ICG) Stock Price Up 4.6% – Should You Buy?

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) shares were up 4.6% on Tuesday . The company traded as high as $1.7020 and last traded at $1.60. Approximately 120,095 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 316,418 shares. The stock had previously closed at $1.53.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ICG shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Intchains Group in a research report on Wednesday, October 8th. Wall Street Zen raised Intchains Group from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Benchmark reiterated a “buy” rating on shares of Intchains Group in a report on Monday, December 8th. Finally, UBS Group restated a “neutral” rating on shares of Intchains Group in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.50.

Intchains Group Stock Up 4.6%

The firm has a fifty day simple moving average of $1.46 and a 200-day simple moving average of $1.90. The company has a market cap of $97.14 million, a PE ratio of 7.62 and a beta of 1.49.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Intchains Group stock. Marex Group plc acquired a new stake in Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 58,324 shares of the company’s stock, valued at approximately $105,000. Marex Group plc owned about 0.10% of Intchains Group at the end of the most recent quarter.

Intchains Group Company Profile

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.