Ideanomics Inc. [NASDAQ: IDEX] plunged by -$0.04 during the normal trading session on Friday and reaching a high of $3.10 during the day while it closed the day at $3.03. The company report on June 14, 2021 that Ideanomics Acquires U.S. EV Tractor Maker Solectrac.
– California-based Solectrac was founded in 2012 by CEO Steve Heckeroth, a leader and visionary in the renewable energy and EV space for more than 40 years.
– Solectrac offers 3 different e-tractors and utility vehicles ranging from 25-70 HP for use in a variety of agricultural and utility operations.
Ideanomics Inc. stock has also loss -3.50% of its value over the past 7 days. However, IDEX stock has declined by -1.62% in the 3 months of the year. Over the past six months meanwhile, it has gained 62.90% and gained 52.26% year-on date.
The market cap for IDEX stock reached $1.31 billion, with 391.13 million shares outstanding and 380.91 million shares in the current float. Compared to the average trading volume of 20.17M shares, IDEX reached a trading volume of 11486790 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 0.22, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 22.12. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 0.86.
IDEX stock trade performance evaluation
Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.50. With this latest performance, IDEX shares gained by 8.60% in over the last four-week period, additionally plugging by 62.90% over the last 6 months – not to mention a rise of 47.09% 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 52.14, with the RSI for the last a single of trading hit 51.11, and the three-weeks RSI is set at 51.94 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 2.81, while it was recorded at 3.01 for the last single week of trading, and 2.42 for the last 200 days.
Ideanomics Inc. [IDEX]: An insightful look at the core fundamentals
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 3.20 and a Current Ratio set at 3.20.
Ideanomics Inc. [IDEX]: Insider Ownership positions
There are presently around $62 million, or 4.90% 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 5,864,964, which is approximately 16.208% of the company’s market cap and around 10.73% of the total institutional ownership; D. E. SHAW & CO., INC., holding 4,808,844 shares of the stock with an approximate value of $14.57 million in IDEX stocks shares; and M&T BANK CORP, currently with $5.8 million in IDEX stock with ownership of nearly -58.223% of the company’s market capitalization.
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 65 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 8,381,571 shares. Additionally, 22 investors decreased positions by around 4,888,661 shares, while 11 investors held positions by with 7,222,555 shares. The mentioned changes placed institutional holdings at 20,492,787 shares, according to the latest SEC report filing. IDEX stock had 40 new institutional investments in for a total of 1,174,733 shares, while 10 institutional investors sold positions of 1,266,752 shares during the same period.