Intchains Group (NASDAQ:ICG) Stock Price Up 2.2% – Should You Buy?

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG) traded up 2.2% during mid-day trading on Wednesday . The company traded as high as $1.83 and last traded at $1.82. 29,585 shares traded hands during trading, a decline of 64% from the average session volume of 82,279 shares. The stock had previously closed at $1.78.

Wall Street Analysts Forecast Growth

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

Intchains Group Stock Up 2.2%

The stock has a market cap of $110.49 million, a P/E ratio of 8.67 and a beta of 1.39. The firm has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.89.

Hedge Funds Weigh In On Intchains Group

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

Intchains Group Company Profile

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.