Ideanomics Inc. [IDEX] Stock trading around $0.54 per share: What’s Next?

Ideanomics Inc. [NASDAQ: IDEX] price plunged by -5.03 percent to reach at -$0.02. The company report on September 9, 2022 that Ideanomics, Inc. Reports Q2 Financial Results.


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–     Revenues for the quarter ended June 30, 2022, were $34.2 million-     Launched Ideanomics Energy increasing our services and offerings-     Energica launched new bike Experia in addition to Energica Inside.

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”), a global company focused on accelerating the commercial adoption of electric vehicles, announced today its second quarter 2022 operating results for the periods ended June 30, 2022.

A sum of 10075276 shares traded at recent session while its average daily volume was at 5.31M shares. Ideanomics Inc. shares reached a high of $0.55 and dropped to a low of $0.5158 until finishing in the latest session at $0.54.

The one-year IDEX stock forecast points to a potential upside of 46.0. The average equity rating for IDEX stock is currently 2.50, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 2.44. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 0.34.

IDEX Stock Performance Analysis:

Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.50. With this latest performance, IDEX shares dropped by -22.65% in over the last four-week period, additionally sinking by -43.64% over the last 6 months – not to mention a drop of -76.05% 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 35.24, with the RSI for the last a single of trading hit 31.67, and the three-weeks RSI is set at 38.32 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.6663, while it was recorded at 0.5725 for the last single week of trading, and 0.8948 for the last 200 days.

Insight into Ideanomics Inc. 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 2.50 and a Current Ratio set at 2.60.

Ideanomics Inc. [IDEX] Insider Position Details

There are presently around $20 million, or 8.10% 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 $3.66 million in IDEX stocks shares; and STATE STREET CORP, currently with $2.21 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 September and at the time of the September reporting period, where 40 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 15,194,927 shares. Additionally, 66 investors decreased positions by around 53,059,915 shares, while 33 investors held positions by with 30,041,719 shares. The mentioned changes placed institutional holdings at 38,213,123 shares, according to the latest SEC report filing. IDEX stock had 21 new institutional investments in for a total of 12,102,240 shares, while 39 institutional investors sold positions of 7,859,991 shares during the same period.

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