Market Analysts see Ideanomics Inc. [IDEX] gaining to $7. Time to buy?

Ideanomics Inc. [NASDAQ: IDEX] stock went on a downward path that fall over -0.81% on Friday, amounting to a one-week price decrease of less than -5.41%. The company report on July 16, 2021 that Ideanomics Announces Q2 2021 Earnings Conference Call Details.

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(NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce the release of its 2021 second-quarter financial results on Monday, August 16, 2021. A press release will be issued at approximately 4pm ET, followed by a conference call with management at 4:30pm ET. The Company’s senior management team will give prepared remarks followed by a question-and-answer session.

CONFERENCE CALL INFORMATION.

Over the last 12 months, IDEX stock rose by 92.91%. The average equity rating for IDEX stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.05 billion, with 391.13 million shares outstanding and 380.91 million shares in the current float. Compared to the average trading volume of 18.89M shares, IDEX stock reached a trading volume of 9675478 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.18, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 17.80. The Price to Book ratio for the last quarter was 2.31, with the Price to Cash per share for the same quarter was set at 0.86.

IDEX Stock Performance Analysis:

Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.41. With this latest performance, IDEX shares dropped by -19.67% in over the last four-week period, additionally sinking by -25.76% over the last 6 months – not to mention a rise of 92.91% 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 37.68, with the RSI for the last a single of trading hit 33.85, and the three-weeks RSI is set at 40.94 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 2.82, while it was recorded at 2.47 for the last single week of trading, and 2.58 for the last 200 days.

Insight into Ideanomics Inc. Fundamentals:

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 Position Details

There are presently around $50 million, or 5.30% 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 10.56% of the total institutional ownership; D. E. SHAW & CO., INC., holding 4,808,844 shares of the stock with an approximate value of $11.78 million in IDEX stocks shares; and M&T BANK CORP, currently with $4.69 million in IDEX stock with ownership of nearly -58.223% of the company’s market capitalization.

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62 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 8,394,629 shares. Additionally, 25 investors decreased positions by around 4,889,145 shares, while 12 investors held positions by with 7,222,421 shares. The mentioned changes placed institutional holdings at 20,506,195 shares, according to the latest SEC report filing. IDEX stock had 38 new institutional investments in for a total of 1,187,846 shares, while 12 institutional investors sold positions of 1,266,881 shares during the same period.

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