Ideanomics Inc [NASDAQ: IDEX] gained 54.90% or 0.56 points to close at $1.58 with a heavy trading volume of 5373031 shares. The company report on January 30, 2024 at 8:00 AM that Energica Inside Signs Agreement with Nimbus to Provide Customized Electric Powertrain.
Ideanomics Attachment.
The daily chart for IDEX points out that the company has recorded -51.83% loss over the past six months.
If we look at the average trading volume of 332.32K shares, IDEX reached to a volume of 5373031 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 $30387.50 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 0.14, with the Price to Sales ratio for IDEX stock in the period of the last 12 months amounting to 0.52. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 0.16.
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 54.90. With this latest performance, IDEX shares gained by 50.48% in over the last four-week period, additionally sinking by -51.83% over the last 6 months – not to mention a drop of -90.60% 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 70.77, with the RSI for the last a single of trading hit 82.26, and the three-weeks RSI is set at 61.50 for Ideanomics Inc [IDEX]. The present Moving Average for the last 50 days of trading for this stock 1.3741, while it was recorded at 1.1280 for the last single week of trading, and 4.3269 for the last 200 days.
Ideanomics Inc [IDEX]: A deeper dive into fundamental analysis
Ideanomics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.27 and a Current Ratio set at 0.42.
Ideanomics Inc [IDEX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ideanomics Inc posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IDEX.
An analysis of Institutional ownership at Ideanomics Inc [IDEX]
The top three institutional holders of IDEX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IDEX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IDEX stock with ownership which is approximately 5.8325%.
