Ideanomics Inc. [NASDAQ: IDEX] closed the trading session at $0.69 on 08/11/22. The day’s price range saw the stock hit a low of $0.68, while the highest price level was $0.7199. The company report on August 3, 2022 that Ideanomics Launches WareSmart to Help Warehouse Operators Plan and Implement Clean Fleet Technologies for ISR Compliance.
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WareSmart is a free tool to help warehouse operators in the South Coast Air Quality Management District (SCAQMD) navigate ISR Rule 2305 and become compliant with the Warehouse Actions and Investments to Reduce Emissions (WAIRE) program.
SCAQMD’s new WAIRE program applies compliance and reporting requirements targeting emissions reduction of over 3,000 warehouses.
The stocks have a year to date performance of -42.68 percent and weekly performance of -4.72 percent. The stock has been moved at -35.71 percent over the last six months. The stock has performed -1.22 percent around the most recent 30 days and changed 29.52 percent over the most recent 3-months.
If compared to the average trading volume of 6.42M shares, IDEX reached to a volume of 3661012 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IDEX shares is $1.00 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 2.50. 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 0.04, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 0.62, with the Price to Cash per share for the same quarter was set at 0.62.
IDEX stock trade performance evaluation
Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.72. With this latest performance, IDEX shares dropped by -1.22% in over the last four-week period, additionally sinking by -35.71% over the last 6 months – not to mention a drop of -71.81% 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 47.94, with the RSI for the last a single of trading hit 46.04, and the three-weeks RSI is set at 48.64 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.6959, while it was recorded at 0.6994 for the last single week of trading, and 1.0260 for the last 200 days.
Ideanomics Inc. [IDEX]: An insightful look at the core 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.
Ideanomics Inc. [IDEX]: Insider Ownership positions
There are presently around $51 million, or 15.50% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: BLACKROCK INC. with ownership of 25,255,266, which is approximately 7.371% of the company’s market cap and around 6.09% of the total institutional ownership; D. E. SHAW & CO., INC., holding 9,784,606 shares of the stock with an approximate value of $6.73 million in IDEX stocks shares; and STATE STREET CORP, currently with $6.53 million in IDEX stock with ownership of nearly 5.146% of the company’s market capitalization.
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 49 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 10,571,899 shares. Additionally, 57 investors decreased positions by around 8,576,825 shares, while 31 investors held positions by with 54,300,121 shares. The mentioned changes placed institutional holdings at 73,448,845 shares, according to the latest SEC report filing. IDEX stock had 16 new institutional investments in for a total of 1,212,973 shares, while 33 institutional investors sold positions of 4,796,526 shares during the same period.