Intchains Group (NASDAQ:ICG) Shares Gap Down to $9.15

Intchains Group Limited (NASDAQ:ICG)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.15, but opened at $8.58. Intchains Group shares last traded at $8.40, with a volume of 1,439 shares.

Intchains Group Price Performance

The firm has a market capitalization of $514.49 million and a P/E ratio of -215.00. The business’s 50-day moving average is $9.52 and its 200 day moving average is $9.14.

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

Institutional Investors Weigh In On Intchains Group

An institutional investor recently bought a new position in Intchains Group stock. UBS Group AG bought a new position in shares of Intchains Group Limited (NASDAQ:ICG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,974 shares of the company’s stock, valued at approximately $34,000.

Intchains Group Company Profile

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.