Maxim Group analyst Matthew Galinko has maintained their bullish stance on ICG stock, giving a Buy rating yesterday.
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Matthew Galinko has given his Buy rating due to a combination of factors, despite some challenges faced by Intchains Group Ltd. ADR. The company reported a significant drop in revenue for the third quarter of 2025, largely due to the cyclical nature of the mining machine market and a broader softening in the altcoin-hardware sector. However, the earnings per share exceeded expectations, primarily due to an unrealized gain in the value of digital asset holdings.
Despite the current downturn in demand for mining equipment, Intchains Group Ltd. is taking strategic steps to diversify its revenue streams. The acquisition of ECHOLINK’s staking platform for $1.3 million is a move towards expanding beyond hardware sales into recurring staking infrastructure. Additionally, the company holds a strong balance sheet with substantial cash, investments, and digital assets, which provides a solid foundation for future operations. These factors contribute to maintaining a Buy rating, although the price target has been adjusted to $3.00 due to revised revenue estimates.
According to TipRanks, Galinko is a 5-star analyst with an average return of 15.3% and a 38.19% success rate. Galinko covers the Technology sector, focusing on stocks such as DeFi Technologies, Intchains Group Ltd. ADR, and SEALSQ Corp.
In another report released yesterday, Benchmark Co. also reiterated a Buy rating on the stock with a $4.00 price target.