Ideanomics Inc. [NASDAQ: IDEX] stock went on a downward path that fall over -8.53% on Tuesday, amounting to a one-week price increase of more than 5.85%. The company report on November 10, 2020 that Ideanomics, Inc. Reports Q3 2020 Financial Results.
– Revenues for the three months ended September 30, 2020, was $10.6 million, an increase of 2.3x compared to Q2 2020 and 3.4x compared to Q3 2019.
– Strong cash position, finished the quarter with $27.6 million.
Over the last 12 months, IDEX stock dropped by -19.08%.
The market cap for the stock reached $209.27 million, with 237.30 million shares outstanding and 198.72 million shares in the current float. Compared to the average trading volume of 7.08M shares, IDEX stock reached a trading volume of 5224854 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ideanomics Inc. [IDEX]:
The Average True Range (ATR) for Ideanomics Inc. is set at 0.07, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 25.52. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 0.15.
IDEX Stock Performance Analysis:
Ideanomics Inc. [IDEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.85. With this latest performance, IDEX shares dropped by -10.95% in over the last four-week period, additionally plugging by 122.53% over the last 6 months – not to mention a drop of -19.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IDEX stock in for the last two-week period is set at 44.42, with the RSI for the last a single of trading hit 47.84, and the three-weeks RSI is set at 45.54 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.9699, while it was recorded at 0.9209 for the last single week of trading, and 0.9491 for the last 200 days.
Insight into Ideanomics Inc. Fundamentals:
Ideanomics Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.50.
Ideanomics Inc. [IDEX] Insider Position Details
There are presently around $8 million, or 2.30% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: M&T BANK CORP with ownership of 2,941,446, which is approximately New of the company’s market cap and around 0.30% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 1,528,516 shares of the stock with an approximate value of $1.36 million in IDEX stocks shares; and PALOMA PARTNERS MANAGEMENT CO, currently with $0.53 million in IDEX stock with ownership of nearly New of the company’s market capitalization.
37 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 7,133,755 shares. Additionally, 35 investors decreased positions by around 4,718,874 shares, while 3 investors held positions by with 3,336,660 shares. The mentioned changes placed institutional holdings at 8,515,969 shares, according to the latest SEC report filing. IDEX stock had 26 new institutional investments in for a total of 5,371,401 shares, while 23 institutional investors sold positions of 2,807,892 shares during the same period.