Intchains Group (NASDAQ:ICG) Stock Price Up 4.6% - Here's What Happened

Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Get Free Report)'s stock price traded up 4.6% on Tuesday . The company traded as high as $1.7020 and last traded at $1.60. 120,095 shares were traded during trading, a decline of 62% from the average session volume of 316,418 shares. The stock had previously closed at $1.53.Get Intchains Group alerts:Wall Street Analyst Weigh InIs it Time to Take Profits in Chip Stocks?Several analysts recently weighed in on ICG shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Intchains Group in a report on Wednesday, October 8th. Benchmark reaffirmed a "buy" rating on shares of Intchains Group in a research note on Monday, December 8th. Wall Street Zen raised Intchains Group from a "sell" rating to a "hold" rating in a research note on Saturday, November 22nd. Finally, UBS Group restated a "neutral" rating on shares of Intchains Group in a report on Monday, December 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.50.Read Our Latest Stock Analysis on ICGIntchains Group Price PerformanceThe firm has a market capitalization of $97.14 million, a price-to-earnings ratio of 7.62 and a beta of 1.49. The firm has a 50 day moving average price of $1.46 and a 200-day moving average price of $1.90. Hedge Funds Weigh In On Intchains GroupA hedge fund recently bought a new stake in Intchains Group stock. Marex Group plc bought a new position in shares of Intchains Group Limited Unsponsored ADR (NASDAQ:ICG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,324 shares of the company's stock, valued at approximately $105,000. Marex Group plc owned 0.10% of Intchains Group as of its most recent filing with the Securities and Exchange Commission (SEC). Intchains Group Company Profile (Get Free Report)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.Recommended StoriesFive stocks we like better than Intchains GroupHow Investors Can Find the Best Cheap Dividend StocksWhy Taiwan Semiconductor's 6.5% Dip Could Be a Smart BuyHow to trade penny stocks: A step-by-step guideRTX Surges to Record Highs as Defense Orders ExplodeHow to Short a Stock in 5 Easy Steps Smart Money Is Buying Auto Suppliers, Not Car BrandsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Intchains Group Right Now?Before you consider Intchains Group, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intchains Group wasn't on the list.While Intchains Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here