Ideanomics Inc. [IDEX] is -39.25% lower this YTD. Is it still time to buy?

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Ideanomics Inc. [NASDAQ: IDEX] traded at a high on 05/04/22, posting a 2.68 gain after which it closed the day’ session at $0.73. The company report on April 26, 2022 that Solectrac Continues to Advance Fully Electric, Zero-Emissions Tractor Sales with New Dealer Retail Partnership in the Southeast.

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Solectrac, makers of all-electric tractors and an operating company of Ideanomics (NASDAQ: IDEX), announces the continued expansion of its certified sales and dealer partnership network with the addition of Columbiana Tractor, LLC., located in Westover, Alabama. This announcement marks the first certified retail location in the southeastern region for Solectrac. With this new dealer partnership, Solectrac and Columbiana Tractor will deliver sustainable, electric tractor solutions to serve the region’s agricultural customers, hobby farmers, rural lifestylers and first-time tractor buyers. With Columbiana Tractor’s end-to-end sales, financing, and service options, customers will be able to reduce their total cost of ownership without sacrificing safety, performance and reliability. Over the next few months, Columbiana Tractors will offer Solectrac’s full lineup of electric tractors, starting with the e25 compact electric tractor and later the award-winning e70N, a powerful, narrow electric tractor purposely built for vineyards and commercial farms, variants and other products.

With the global electric farm tractor market expected to exceed $218M by 2026, this new announcement supports Solectrac’s national strategy to bring the benefits of zero-emission tractors with low maintenance charge options directly to the buyer via trusted dealerships located within their region. From hobby farms to utility applications, Solectrac’s award-winning tractors allow farmers to power their tractors by using clean, renewable energy sources with the same productivity and performance as tractors using traditional fuels.

The results of the trading session contributed to over 4490483 shares changing hands. Over the past one week, the price volatility of Ideanomics Inc. stands at 7.46% while the volatility over the past one month is 7.06%.

The market cap for IDEX stock reached $375.45 million, with 473.83 million shares outstanding and 467.38 million shares in the current float. Compared to the average trading volume of 5.83M shares, IDEX reached a trading volume of 4490483 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 $2.00 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 Neutral, with their previous recommendation back on April 07, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on February 11, 2022, representing the official price target for Ideanomics Inc. stock. Previously, the target price had yet another raise to $7, while ROTH Capital analysts kept a Buy rating on IDEX stock.

The Average True Range (ATR) for Ideanomics Inc. is set at 0.06, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 3.80. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 0.61.

How has IDEX stock performed recently?

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 -35.49% in over the last four-week period, additionally sinking by -64.78% over the last 6 months – not to mention a drop of -73.30% 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 36.68, with the RSI for the last a single of trading hit 34.92, and the three-weeks RSI is set at 38.82 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.9075, while it was recorded at 0.7248 for the last single week of trading, and 1.5426 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.

Insider trade positions for Ideanomics Inc. [IDEX]

There are presently around $51 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 $6.4 million in IDEX stocks shares; and D. E. SHAW & CO., INC., currently with $3.76 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 May and at the time of the May reporting period, where 74 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 9,045,061 shares. Additionally, 43 investors decreased positions by around 3,297,938 shares, while 27 investors held positions by with 59,060,623 shares. The mentioned changes placed institutional holdings at 71,403,622 shares, according to the latest SEC report filing. IDEX stock had 25 new institutional investments in for a total of 1,346,124 shares, while 24 institutional investors sold positions of 1,424,485 shares during the same period.