Ideanomics Inc. [IDEX] Revenue clocked in at $98.90 million, down -39.70% YTD: What’s Next?


Ideanomics Inc. [NASDAQ: IDEX] traded at a low on 12/31/21, posting a -1.64 loss after which it closed the day’ session at $1.20. The company report on December 22, 2021 that US Hybrid Receives $5.5 Million Purchase Order from Global Environmental Products to Electrify Street Sweepers for California and other state fleets.

US Hybrid and GEP have been working together since 2009 and have deployed first-of-their-kind, fully electric street sweepers across the US and Japan.

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US Hybrid, a wholly-owned subsidiary of Ideanomics and a leader in advanced battery, fuel cell and hybrid electric vehicles, today announced a $5.5 million purchase order from Global Environmental Products (GEP) for additional battery powertrain kits for electric street sweepers for California’s largest fleet operator, with delivery of the order expected to occur during 2022.

The results of the trading session contributed to over 8608495 shares changing hands. Over the past one week, the price volatility of Ideanomics Inc. stands at 9.62% while the volatility over the past one month is 8.42%.

The market cap for IDEX stock reached $634.50 million, with 473.83 million shares outstanding and 455.73 million shares in the current float. Compared to the average trading volume of 9.67M shares, IDEX reached a trading volume of 8608495 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ideanomics Inc. [IDEX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IDEX shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IDEX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.12, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 6.42. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 0.60.

How has IDEX stock performed recently?

Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.25. With this latest performance, IDEX shares dropped by -20.00% in over the last four-week period, additionally sinking by -54.89% over the last 6 months – not to mention a drop of -39.70% 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 32.88, with the RSI for the last a single of trading hit 30.85, and the three-weeks RSI is set at 34.72 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 1.6545, while it was recorded at 1.1980 for the last single week of trading, and 2.3210 for the last 200 days.

Ideanomics Inc. [IDEX]: Deeper insight into the 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 7.90 and a Current Ratio set at 8.00.

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Insider trade positions for Ideanomics Inc. [IDEX]

There are presently around $79 million, or 13.60% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: BLACKROCK INC. with ownership of 22,472,617, which is approximately -1.596% of the company’s market cap and around 1.60% of the total institutional ownership; STATE STREET CORP, holding 8,126,381 shares of the stock with an approximate value of $9.75 million in IDEX stocks shares; and D. E. SHAW & CO., INC., currently with $4.89 million in IDEX stock with ownership of nearly -63.888% of the company’s market capitalization.

Positions in Ideanomics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 63 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 3,632,439 shares. Additionally, 57 investors decreased positions by around 11,343,434 shares, while 27 investors held positions by with 50,640,673 shares. The mentioned changes placed institutional holdings at 65,616,546 shares, according to the latest SEC report filing. IDEX stock had 22 new institutional investments in for a total of 588,456 shares, while 23 institutional investors sold positions of 1,176,358 shares during the same period.