Ideanomics Inc. [IDEX] Is Currently -4.96 below its 200 Period Moving Avg: What Does This Mean?

Ideanomics Inc. [NASDAQ: IDEX] slipped around -0.01 points on Monday, while shares priced at $0.22 at the close of the session, down -4.96%. The company report on November 30, 2022 that Ideanomics, Energica secure third-party financing to accelerate the growth of Energica’s U.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 Energica now has 24 certified dealers in the United States, which accounts for 33% of product sales. To enable this dealer expansion, Ideanomics and Energica secured strategic third-party financing.

“This is a validation of our brand and products,” says Ideanomics Mobility president, Robin Mackie. “In less than a year, Energica has doubled its production, introduced new models with a wider market appeal and secured its first fleet orders. With strategic third-party capital, this growth can continue even faster.”.

Ideanomics Inc. stock is now -81.47% down from its year-to-date (YTD) trading value. IDEX Stock saw the intraday high of $0.245 and lowest of $0.22 per share. The company’s 52-week high price is 1.65, which means current price is +11.20% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 9.25M shares, IDEX reached a trading volume of 5738507 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 $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 0.02, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 0.42.

How has IDEX stock performed recently?

Ideanomics Inc. [IDEX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.84. With this latest performance, IDEX shares dropped by -17.57% in over the last four-week period, additionally sinking by -61.46% over the last 6 months – not to mention a drop of -83.65% 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 40.57, with the RSI for the last a single of trading hit 38.94, and the three-weeks RSI is set at 40.33 for Ideanomics Inc. [IDEX]. The present Moving Average for the last 50 days of trading for this stock 0.2572, while it was recorded at 0.2272 for the last single week of trading, and 0.6122 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 -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.

Insider trade positions for Ideanomics Inc. [IDEX]

There are presently around $6 million, or 4.60% of IDEX stock, in the hands of institutional investors. The top three institutional holders of IDEX stocks are: STATE STREET CORP with ownership of 4,544,414, which is approximately 10.306% 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 $0.78 million in IDEX stocks shares; and ERGOTELES LLC, currently with $0.44 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 29 institutional holders increased their position in Ideanomics Inc. [NASDAQ:IDEX] by around 3,302,424 shares. Additionally, 45 investors decreased positions by around 16,191,627 shares, while 36 investors held positions by with 5,687,017 shares. The mentioned changes placed institutional holdings at 25,181,068 shares, according to the latest SEC report filing. IDEX stock had 12 new institutional investments in for a total of 2,391,203 shares, while 18 institutional investors sold positions of 1,518,375 shares during the same period.


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