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Wall Street Pummels Ideanomics Inc. (IDEX) After Recent Earnings Report

Ideanomics Inc. (NASDAQ:IDEX) went up by 2.01% from its latest closing price compared to the recent 1-year high of $1.68. The company’s stock price has collected -7.12% of loss 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 0.44. Opinions of the stock are interesting as 0 analysts out of 1 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 $1.00, which is $0.76 above the current price. IDEX currently public float of 533.65M and currently shorts hold a 7.45% ratio of that float. Today, the average trading volume of IDEX was 8.64M shares.

IDEX’s Market Performance

IDEX stocks went down by -7.12% for the week, with a monthly drop of -21.88% and a quarterly performance of -60.67%, while its annual performance rate touched -83.30%. The volatility ratio for the week stands at 7.77% while the volatility levels for the past 30 days are set at 10.76% for Ideanomics Inc. The simple moving average for the period of the last 20 days is -6.54% for IDEX stocks with a simple moving average of -62.20% 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 -16.22% 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 -85.49% of loss for the given period.

Volatility was left at 10.76%, however, over the last 30 days, the volatility rate increased by 7.77%, as shares sank -15.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -55.04% lower at present.

During the last 5 trading sessions, IDEX fell by -7.12%, which changed the moving average for the period of 200-days by -76.56% in comparison to the 20-day moving average, which settled at $0.2585. In addition, Ideanomics Inc. saw -79.68% 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 400,000 shares at the price of $0.25 back on Oct 21. After this action, Poor Alfred now owns 1,889,125 shares of Ideanomics Inc., valued at $100,000 using the latest closing price.

Poor Alfred, the Chief Executive Officer of Ideanomics Inc., purchase 19,775 shares at $1.01 during a trade that took place back on Jan 21, which means that Poor Alfred is holding 1,489,125 shares at $19,973 based on the most recent closing price.

Stock Fundamentals for IDEX

Current profitability levels for the company are sitting at:

  • -73.36 for the present operating margin
  • +15.00 for the gross margin

The net margin for Ideanomics Inc. stands at -224.41. Equity return is now at value -93.70, with -66.40 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 3.98.

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