Intchains Group (ICG) Set to Post Quarterly Earnings on Thursday

Intchains Group (NASDAQ:ICG) is anticipated to announce its resultson Thursday, November 12th. Analysts expect Intchains Group to announce earnings of $0.0822 per share and revenue of $23.09 million for the quarter.

Intchains Group (NASDAQ:ICG) last announced its quarterly earnings results on Thursday, August 20th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.15). The firm had revenue of $0.82 million for the quarter, compared to the consensus estimate of $5.17 million.

Intchains Group Stock Performance

Intchains Group stock opened at $1.34 on Thursday. The company has a 50-day simple moving average of $1.10 and a 200-day simple moving average of $1.15. The firm has a market capitalization of $81.65 million, a P/E ratio of -11.21 and a beta of 0.92. Intchains Group has a one year low of $0.60 and a one year high of $2.28.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ICG shares. Benchmark cut their price objective on shares of Intchains Group from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Weiss Ratings restated a “sell (d)” rating on shares of Intchains Group in a research report on Monday, October 12th. Finally, Maxim Group restated a “buy” rating and issued a $3.00 price target on shares of Intchains Group in a research note on Monday, August 24th. Two research analysts have 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 has an average rating of “Hold” and an average price target of $2.50.

About Intchains Group

Intchains Group Limited is a fabless integrated circuit design company focused primarily on application-specific integrated circuit (ASIC) chips and related solutions for blockchain and other high-performance computing applications. The company develops chip designs and supporting technologies rather than manufacturing semiconductors directly.

Its offerings include ASIC chips, blockchain computing equipment and related hardware and software solutions. These products are intended to support specialized computing tasks, including cryptocurrency mining and other applications that require high-performance, purpose-built processing capabilities.

Intchains Group is incorporated in the Cayman Islands and conducts its operating activities through subsidiaries in China.