Ideanomics Inc. [IDEX] is -43.00% lower this YTD. Is it still time to buy?

Ideanomics Inc. [NASDAQ: IDEX] loss -3.40% on the last trading session, reaching $0.68 price per share at the time. The company report on August 12, 2022 that Ideanomics Receives Anticipated Notice of Additional Filing Delinquency from Nasdaq.

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Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), a global company focused on accelerating the adoption of commercial electric vehicles (EV), today announced that, as expected, the Company received an additional notice of non-compliance from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) due to the Company’s failure to timely file the Form 10-Q for the quarter ended June 30, 2022 with the Securities and Exchange Commission (the “SEC”), as required by Nasdaq Listing Rule 5250(c)(1). As previously disclosed, the Company earlier received notices from Nasdaq regarding its non-compliance with the Rule with respect to the Forms 10-K and 10-Q for the fiscal year ended December 31, 2021, and quarter ended March 31, 2022, respectively. The Company plans to regain compliance with the filing requirement by no later than September 12, 2022, which is the deadline in order to remain compliant with Nasdaq requirements. In the event that such deadline is not met then the Company will apply to Nasdaq for a hearing panel.

Ideanomics Inc. represents 473.83 million in outstanding shares, while the company has a total market value of $329.40 million with the latest information. IDEX stock price has been found in the range of $0.68 to $0.7021.

If compared to the average trading volume of 6.29M shares, IDEX reached a trading volume of 4736467 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 $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 3.33. 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 0.65.

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 1.00. With this latest performance, IDEX shares dropped by -2.36% in over the last four-week period, additionally sinking by -31.26% over the last 6 months – not to mention a drop of -69.33% 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 47.10, with the RSI for the last a single of trading hit 44.63, and the three-weeks RSI is set at 48.13 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.7010, while it was recorded at 0.6968 for the last single week of trading, and 1.0084 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 $26 million, or 15.40% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 8,272,897, which is approximately New of the company’s market cap and around 6.09% of the total institutional ownership; D. E. SHAW & CO., INC., holding 6,822,183 shares of the stock with an approximate value of $4.67 million in IDEX stocks shares; and STATE STREET CORP, currently with $2.82 million in IDEX stock with ownership of nearly -56.559% 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 40 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 15,212,404 shares. Additionally, 66 investors decreased positions by around 53,105,728 shares, while 32 investors held positions by with 30,105,873 shares. The mentioned changes placed institutional holdings at 38,212,259 shares, according to the latest SEC report filing. IDEX stock had 20 new institutional investments in for a total of 12,101,940 shares, while 40 institutional investors sold positions of 7,913,289 shares during the same period.


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