Ideanomics Inc. (NASDAQ: IDEX)’s stock price has increased by 1.90 compared to its previous closing price of 0.11. Nevertheless, the company has seen a 0.18% surge in its stock price over the last five trading sessions.
Is It Worth Investing in Ideanomics Inc. (NASDAQ: IDEX) Right Now?
Additionally, the 36-month beta value for IDEX is 0.65. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The average price predicted by analysts for IDEX is $1.00, which is $0.89 above the current price. The public float for IDEX is 593.41M and currently, short sellers hold a 9.61% ratio of that float. The average trading volume of IDEX on March 16, 2023 was 14.78M shares.
IDEX’s Market Performance
IDEX’s stock has seen a 0.18% increase for the week, with a -31.47% drop in the past month and a -44.01% fall in the past quarter. The volatility ratio for the week is 10.73%, and the volatility levels for the past 30 days are at 7.65% for Ideanomics Inc. The simple moving average for the last 20 days is -13.29% for IDEX stock, with a simple moving average of -70.83% 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 -29.97% 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 -90.21% of loss for the given period.
Volatility was left at 7.65%, however, over the last 30 days, the volatility rate increased by 10.73%, as shares sank -27.10% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -27.19% lower at present.
During the last 5 trading sessions, IDEX rose by +0.53%, which changed the moving average for the period of 200-days by -82.13% in comparison to the 20-day moving average, which settled at $0.1278. In addition, Ideanomics Inc. saw -31.34% in overturn over a single year, with a tendency to cut further losses.
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.
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.
In conclusion, Ideanomics Inc. (IDEX) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.