For Ideanomics Inc. [IDEX], Analyst sees a rise to $7. What next?

Ideanomics Inc. [NASDAQ: IDEX] plunged by -$0.13 during the normal trading session on Friday and reaching a high of $2.58 during the day while it closed the day at $2.46. The company report on July 16, 2021 that Ideanomics Announces Q2 2021 Earnings Conference Call Details.

(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.

Ideanomics Inc. stock has also gained 0.41% of its value over the past 7 days. However, IDEX stock has declined by -7.17% in the 3 months of the year. Over the past six months meanwhile, it has lost -29.11% and gained 23.62% year-on date.

The market cap for IDEX stock reached $1.10 billion, with 391.13 million shares outstanding and 380.91 million shares in the current float. Compared to the average trading volume of 17.96M shares, IDEX reached a trading volume of 6812380 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 0.16, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 18.66. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 0.83.

IDEX stock trade performance evaluation

Ideanomics Inc. [IDEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.41. With this latest performance, IDEX shares dropped by -21.90% in over the last four-week period, additionally sinking by -29.11% over the last 6 months – not to mention a rise of 89.23% 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 41.72, with the RSI for the last a single of trading hit 41.22, and the three-weeks RSI is set at 43.09 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 2.49 for the last single week of trading, and 2.62 for the last 200 days.

Ideanomics Inc. [IDEX]: An insightful look at the core 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 Ownership positions

There are presently around $50 million, or 5.40% 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 $11.83 million in IDEX stocks shares; and M&T BANK CORP, currently with $4.71 million in IDEX stock with ownership of nearly -58.223% of the company’s market capitalization.

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Positions in Ideanomics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 57 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 8,324,611 shares. Additionally, 29 investors decreased positions by around 4,995,670 shares, while 13 investors held positions by with 7,079,389 shares. The mentioned changes placed institutional holdings at 20,399,670 shares, according to the latest SEC report filing. IDEX stock had 34 new institutional investments in for a total of 1,174,421 shares, while 15 institutional investors sold positions of 1,268,306 shares during the same period.

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