The stock of Ideanomics Inc (IDEX) has seen a -2.17% decrease in the past week, with a -8.19% drop in the past month, and a -20.70% decrease in the past quarter. The volatility ratio for the week is 11.53%, and the volatility levels for the past 30 days are at 8.75% for IDEX. The simple moving average for the past 20 days is -4.26% for IDEX’s stock, with a -71.69% simple moving average for the past 200 days.
Is It Worth Investing in Ideanomics Inc (NASDAQ: IDEX) Right Now?
Additionally, the 36-month beta value for IDEX is 0.63. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for IDEX is 9.68M and currently, short sellers hold a 24.51% ratio of that float. The average trading volume of IDEX on April 19, 2024 was 536.02K shares.
IDEX) stock’s latest price update
Ideanomics Inc (NASDAQ: IDEX) has experienced a rise in its stock price by 10.29 compared to its previous closing price of 0.82. However, the company has seen a fall of -2.17% in its stock price over the last five trading days. InvestorPlace reported 2024-04-11 that When building a stock portfolio, the most prudent strategy is typically to buy and hold shares of quality companies for the long haul. Avoiding businesses with flawed fundamentals or deteriorating financials can save you from getting stuck holding the bag on failing investments.
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 -10.97% 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 -94.42% of loss for the given period.
Volatility was left at 8.75%, however, over the last 30 days, the volatility rate increased by 11.53%, as shares sank -11.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -7.16% lower at present.
During the last 5 trading sessions, IDEX fell by -2.17%, which changed the moving average for the period of 200-days by -91.53% in comparison to the 20-day moving average, which settled at $0.9341. In addition, Ideanomics Inc saw -54.77% 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 Hayward Andrea Maria, who purchase 2,000 shares at the price of $0.95 back on Feb 07 ’24. After this action, Hayward Andrea Maria now owns 2,000 shares of Ideanomics Inc, valued at $1,900 using the latest closing price.
Stock Fundamentals for IDEX
Current profitability levels for the company are sitting at:
- -9.96 for the present operating margin
- -0.05 for the gross margin
The net margin for Ideanomics Inc stands at -9.46. The total capital return value is set at -8.66. Equity return is now at value -232.09, with -128.33 for asset returns.
Based on Ideanomics Inc (IDEX), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at -2.04. The debt to equity ratio resting at 1.64. The interest coverage ratio of the stock is -154.47.
Currently, EBITDA for the company is -142.93 million with net debt to EBITDA at -0.2. When we switch over and look at the enterprise to sales, we see a ratio of 1.13. The receivables turnover for the company is 7.12for trailing twelve months and the total asset turnover is 0.24. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.42.
Conclusion
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.
