Market Analysts see Ideanomics Inc. [IDEX] gaining to $3. Time to buy?


Ideanomics Inc. [NASDAQ: IDEX] gained 9.46% on the last trading session, reaching $1.04 price per share at the time. The company report on March 28, 2022 that Ideanomics Finalizes Energica Motor Company Deal, Acquiring 70 Percent Ownership Stake in Pioneering High-Performance All-Electric Motorcycle Company.

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Company to Host Analyst and Investor Day and EV Product Showcase at the NASDAQ MarketSite in Times Square on April 11, 2022.

Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, today announced the company has finalized its majority ownership stake of Italian manufacturer and distributor of high-performance, 100% battery-powered electric motorcycles, Energica Motor Company S.p.A. (Energica). Ideanomics will host an Analyst and Investor Day plus EV product showcase on Monday, April 11, 2022, at the NASDAQ MarketSite in New York City to discuss the acquisition, high-growth two-wheel market and synergy that Energica brings to Ideanomics and its operating companies. The theme for the meeting is “EVolving the Road Ahead,” a role Ideanomics fully embraces to offer the market with leading commercial electric solutions including vehicles, charging technology with design, implementation, and financial services.

Ideanomics Inc. represents 473.83 million in outstanding shares, while the company has a total market value of $532.57 million with the latest information. IDEX stock price has been found in the range of $0.9502 to $1.04.

If compared to the average trading volume of 6.47M shares, IDEX reached a trading volume of 7560239 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IDEX shares is $4.00 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.

Cantor Fitzgerald have made an estimate for Ideanomics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 11, 2022. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on April 14, 2021, representing the official price target for Ideanomics Inc. stock.

The Average True Range (ATR) for Ideanomics Inc. is set at 0.08, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 5.38. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 0.62.

Trading performance analysis for IDEX stock

Ideanomics Inc. [IDEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.55. With this latest performance, IDEX shares dropped by -0.95% in over the last four-week period, additionally sinking by -49.02% over the last 6 months – not to mention a drop of -63.89% 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 56.26, with the RSI for the last a single of trading hit 61.87, and the three-weeks RSI is set at 52.54 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.9814, while it was recorded at 0.9596 for the last single week of trading, and 1.7781 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 7.90 and a Current Ratio set at 8.00.

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

There are presently around $68 million, or 16.30% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: BLACKROCK INC. with ownership of 23,521,490, which is approximately 4.667% of the company’s market cap and around 0.30% of the total institutional ownership; STATE STREET CORP, holding 9,019,622 shares of the stock with an approximate value of $8.57 million in IDEX stocks shares; and D. E. SHAW & CO., INC., currently with $5.03 million in IDEX stock with ownership of nearly 30.066% 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 76 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 9,417,561 shares. Additionally, 45 investors decreased positions by around 3,250,794 shares, while 25 investors held positions by with 59,076,484 shares. The mentioned changes placed institutional holdings at 71,744,839 shares, according to the latest SEC report filing. IDEX stock had 24 new institutional investments in for a total of 1,666,180 shares, while 25 institutional investors sold positions of 1,297,418 shares during the same period.