Maxim Group Lowered the PT on Intchains Group Limited, Kept a Buy Rating

Intchains Group Limited (NASDAQ:ICG) is one of the High Growth Penny Stocks That Are Profitable in 2025. On May 27, Maxim Group analyst Matthew Galinko lowered the firm’s price target on Intchains Group Limited (NASDAQ:ICG) from $8 to $7.5, while maintaining a Buy rating on the stock.

The analyst noted that the slight price adjustment represents some near-term challenges facing the company. He highlighted that despite the challenges, its growth potential remains strong. The company reported a significant revenue increase in Q1 2025, which was mainly driven by robust sales of its new Aleo mining machines.

Galinko noted Intchains Group Limited (NASDAQ:ICG)’s strategic moves, including the launch of the Goldshell Byte mining machine. He believes that this positions the company to capitalize on emerging opportunities in digital asset mining. Although the company lowered its guidance for the first half of 2025 due to tougher competition and falling cryptocurrency prices, Galinko remains optimistic.

Intchains Group Limited (NASDAQ:ICG) is a holding company that provides altcoin mining products, including mining machines that use high-performance ASIC chips designed for blockchain applications.

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Disclosure: None. This article is originally published at Insider Monkey.