Is a Correction Looming Ahead for Ideanomics Inc. (IDEX) – News Heater
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Is a Correction Looming Ahead for Ideanomics Inc. (IDEX)

Ideanomics Inc. (NASDAQ:IDEX) went down by -2.01% from its latest closing price compared to the recent 1-year high of $3.25. The company’s stock price has collected 7.13% of gains in the last five trading sessions.

Is It Worth Investing in Ideanomics Inc. (NASDAQ :IDEX) Right Now?

Plus, the 36-month beta value for IDEX is at 0.10. Opinions of the stock are interesting as 1 analysts out of 2 who provided ratings for Ideanomics Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $2.00, which is $1.32 above the current price. IDEX currently public float of 467.38M and currently shorts hold a 13.70% ratio of that float. Today, the average trading volume of IDEX was 6.40M shares.

IDEX’s Market Performance

IDEX stocks went up by 7.13% for the week, with a monthly jump of 13.76% and a quarterly performance of -26.85%, while its annual performance rate touched -76.59%. The volatility ratio for the week stands at 8.65% while the volatility levels for the past 30 days are set at 9.17% for Ideanomics Inc. The simple moving average for the period of the last 20 days is 7.94% for IDEX stocks with a simple moving average of -46.33% for the last 200 days.

Analysts’ Opinion of IDEX

Cantor Fitzgerald, on the other hand, stated in their research note that they expect to see IDEX reach a price target of $3. The rating they have provided for IDEX stocks is “Overweight” according to the report published on February 11th, 2022.

ROTH Capital gave a rating of “Buy” to IDEX, setting the target price at $7 in the report published on April 14th of the previous year.

IDEX Trading at -0.90% from the 50-Day Moving Average

After a stumble in the market that brought IDEX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -78.96% of loss for the given period.

Volatility was left at 9.17%, however, over the last 30 days, the volatility rate increased by 8.65%, as shares surge +19.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -28.70% lower at present.

During the last 5 trading sessions, IDEX rose by +7.13%, which changed the moving average for the period of 200-days by -72.21% in comparison to the 20-day moving average, which settled at $0.6389. In addition, Ideanomics Inc. saw -43.03% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at IDEX starting from Poor Alfred, who purchase 19,775 shares at the price of $1.01 back on Jan 21. After this action, Poor Alfred now owns 1,489,125 shares of Ideanomics Inc., valued at $19,973 using the latest closing price.

Poor Alfred, the Chief Executive Officer of Ideanomics Inc., purchase 14,500 shares at $1.07 during a trade that took place back on Jan 20, which means that Poor Alfred is holding 1,469,350 shares at $15,515 based on the most recent closing price.

Stock Fundamentals for IDEX

Current profitability levels for the company are sitting at:

  • -186.21 for the present operating margin
  • -12.16 for the gross margin

The net margin for Ideanomics Inc. stands at -367.04. The total capital return value is set at -34.19, while invested capital returns managed to touch -81.07. Equity return is now at value -27.90, with -22.20 for asset returns.

Based on Ideanomics Inc. (IDEX), the company’s capital structure generated 4.13 points at debt to equity in total, while total debt to capital is 3.97. Total debt to assets is 3.31, with long-term debt to equity ratio resting at 3.62. Finally, the long-term debt to capital ratio is 3.46.

When we switch over and look at the enterprise to sales, we see a ratio of 1.83, with the company’s debt to enterprise value settled at 0.03. The receivables turnover for the company is 4.72 and the total asset turnover is 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 13.76.