Intchains Group (NASDAQ:ICG) Shares Gap Up to $8.40

Intchains Group Limited (NASDAQ:ICG)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.40, but opened at $8.66. Intchains Group shares last traded at $8.87, with a volume of 534 shares traded.

Intchains Group Price Performance

The company’s 50 day simple moving average is $9.58 and its 200 day simple moving average is $9.15. The firm has a market cap of $514.45 million and a price-to-earnings ratio of -207.00.

Intchains Group (NASDAQ:ICG) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.02 EPS for the quarter. The business had revenue of $4.99 million during the quarter. Intchains Group had a negative net margin of 31.11% and a negative return on equity of 2.70%.

Institutional Investors Weigh In On Intchains Group

A hedge fund recently bought a new stake in Intchains Group stock. UBS Group AG bought a new stake in Intchains Group Limited (NASDAQ:ICG) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,974 shares of the company’s stock, valued at approximately $34,000.

About Intchains Group

Intchains Group Limited designs and sells application-specific integrated circuit chips and ancillary software and hardware for blockchain applications in the People's Republic of China. It serves distributors, companies, and individuals. Intchains Group Limited was founded in 2017 and is based in Pudong, China.