Ideanomics Inc. [IDEX] moved down -7.95: Why It’s Important

Ideanomics Inc. [NASDAQ: IDEX] loss -7.95% or -0.21 points to close at $2.43 with a heavy trading volume of 12226330 shares. The company report on April 23, 2021 that Ideanomics to Ring NASDAQ Closing Bell Closing Out Earth Week.

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Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), is pleased to announce that management and employees of the Company will be virtually ringing the NASDAQ closing bell to celebrate the ending of Earth week this Friday April 23, 2021 at 4:00pm ET.

“We are excited to close out Earth Week with the Nasdaq bell ringing ceremony. Our mission is to drive the sustainability transformation globally and we are excited how our business is developing into a truly global organization which can say it’s making a difference,” said Alf Poor, CEO of Ideanomics.

It opened the trading session at $2.62, the shares rose to $2.63 and dropped to $2.43, the range by which the price of stock traded the whole day. The daily chart for IDEX points out that the company has recorded 160.90% gains over the past six months. However, it is still -556.76% lower than its most recent low trading price.

If we look at the average trading volume of 25.00M shares, IDEX reached to a volume of 12226330 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ideanomics Inc. [IDEX]:

ROTH Capital have made an estimate for Ideanomics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 14, 2021.

The Average True Range (ATR) for Ideanomics Inc. is set at 0.24, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 38.31. The Price to Book ratio for the last quarter was 3.63, with the Price to Cash per share for the same quarter was set at 0.39.

Trading performance analysis for IDEX stock

Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.13. With this latest performance, IDEX shares dropped by -17.63% in over the last four-week period, additionally plugging by 160.90% over the last 6 months – not to mention a rise of 362.86% 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 39.07, with the RSI for the last a single of trading hit 34.93, and the three-weeks RSI is set at 41.53 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 2.90, while it was recorded at 2.61 for the last single week of trading, and 2.20 for the last 200 days.

Ideanomics Inc. [IDEX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Ideanomics Inc. [IDEX] shares currently have an operating margin of -186.21 and a Gross Margin at -12.16. Ideanomics Inc.’s Net Margin is presently recorded at -367.04.

Return on Total Capital for IDEX is now -34.19, given the latest momentum, and Return on Invested Capital for the company is -81.07. Return on Equity for this stock declined to -88.22, with Return on Assets sitting at -54.36. When it comes to the capital structure of this company, Ideanomics Inc. [IDEX] has a Total Debt to Total Equity ratio set at 4.13. Additionally, IDEX Total Debt to Total Capital is recorded at 3.97, with Total Debt to Total Assets ending up at 3.31. Long-Term Debt to Equity for the company is recorded at 3.62, with the Long-Term Debt to Total Capital now at 3.46.

Reflecting on the efficiency of the workforce at the company, Ideanomics Inc. [IDEX] managed to generate an average of -$892,873 per employee. Receivables Turnover for the company is 4.72 with a Total Asset Turnover recorded at a value of 0.15.Ideanomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.80 and a Current Ratio set at 13.80.

An analysis of insider ownership at Ideanomics Inc. [IDEX]

There are presently around $38 million, or 4.20% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: SUSQUEHANNA INTERNATIONAL GROUP, LLP with ownership of 5,046,961, which is approximately 127.308% of the company’s market cap and around 10.73% of the total institutional ownership; M&T BANK CORP, holding 1,913,207 shares of the stock with an approximate value of $5.05 million in IDEX stocks shares; and D. E. SHAW & CO., INC., currently with $2.5 million in IDEX stock with ownership of nearly 886.46% of the company’s market capitalization.

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Positions in Ideanomics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 45 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 6,370,528 shares. Additionally, 21 investors decreased positions by around 5,402,877 shares, while 9 investors held positions by with 2,711,055 shares. The mentioned changes placed institutional holdings at 14,484,460 shares, according to the latest SEC report filing. IDEX stock had 27 new institutional investments in for a total of 1,206,793 shares, while 6 institutional investors sold positions of 154,754 shares during the same period.

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