Market cap of Ideanomics Inc. [IDEX] reaches 134.04M – now what?

Ideanomics Inc. [NASDAQ: IDEX] price surged by 7.41 percent to reach at $0.02. The company report on November 14, 2022 that Ideanomics secures third-party financing to accelerate the growth of Solectrac’s dealer network.

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Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), today announces that its subsidiary Solectrac has added seven more certified dealers to its dealer network. To enable dealer expansion, Ideanomics secured strategic financing from global financial solutions provider DLL.

“Our ability to bring on a leading company like DLL as a partner to finance the growth of Solectrac is a validation of our brand and products,” says Ideanomics Mobility president Robin Mackie. “It shows that Ideanomics has succeeded in our mission to build Solectrac into a trusted company, underscored by the fact that Solectrac is selling units as fast as they can make them. With more strategic third-party capital, Solectrac can scale faster and get more electric tractors into the hands of customers.”.

A sum of 8852877 shares traded at recent session while its average daily volume was at 8.32M shares. Ideanomics Inc. shares reached a high of $0.279 and dropped to a low of $0.2551 until finishing in the latest session at $0.28.

The one-year IDEX stock forecast points to a potential upside of 72.0. The average equity rating for IDEX stock is currently 3.00, 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 3.00. 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 0.03, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 0.54.

IDEX Stock Performance Analysis:

Ideanomics Inc. [IDEX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.72. With this latest performance, IDEX shares gained by 29.48% in over the last four-week period, additionally sinking by -53.52% over the last 6 months – not to mention a drop of -86.16% 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 49.59, with the RSI for the last a single of trading hit 55.40, and the three-weeks RSI is set at 45.38 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.3255, while it was recorded at 0.2422 for the last single week of trading, and 0.6683 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 -73.36 and a Gross Margin at +15.00. Ideanomics Inc.’s Net Margin is presently recorded at -224.41.

Return on Equity for this stock declined to -92.73, with Return on Assets sitting at -72.33.

Ideanomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.70.

Ideanomics Inc. [IDEX] Insider Position Details

There are presently around $7 million, or 7.10% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: STATE STREET CORP with ownership of 4,119,828, which is approximately -56.559% of the company’s market cap and around 0.30% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 3,511,208 shares of the stock with an approximate value of $0.97 million in IDEX stocks shares; and ERGOTELES LLC, currently with $0.55 million in IDEX stock with ownership of nearly -24.605% of the company’s market capitalization.

Positions in Ideanomics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 30 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 2,803,078 shares. Additionally, 47 investors decreased positions by around 22,196,733 shares, while 34 investors held positions by with 253,407 shares. The mentioned changes placed institutional holdings at 24,746,404 shares, according to the latest SEC report filing. IDEX stock had 14 new institutional investments in for a total of 2,401,789 shares, while 19 institutional investors sold positions of 1,945,975 shares during the same period.


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