Stock on Demand This Week: Ideanomics Inc. (IDEX)

Ideanomics Inc. (NASDAQ:IDEX) saw a downside of -3.33% on Monday at $1.88 after subtracting -$0.07. The 5-day average trading volume is 9,241,244 shares of the company’s common stock. It has gained $2.1400 in the past week and touched a new high 1 time within the past 5 days. An average of 8,156,416 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 8,956,265.

IDEX’s 1-month performance is -19.09% or -$0.5150 on its low of $1.8600 reached on 10/04/21. The company’s shares have touched a 52-week low of $0.80 and high of $5.53, with the stock’s rally to the 52-week high happening on 02/05/21. YTD, IDEX has lost -2.01% or -$0.1050 and has reached a new high 11 times. However, the current price is down -65.91%% from the 52-week high price.

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Insider Transactions

On Sep 24, 10 days have gone by since the last insider trading activity for Ideanomics Inc. (IDEX). MCMAHON SHANE (Executive Chairman) most recently sold 500,000 shares at $2.06 per share on Sep 24. This transaction cost the insider $1,030,000.

Valuation Metrics

Ideanomics Inc. (IDEX) has a trailing price-to-earnings (P/E) ratio of 16.55 for the broader industry and 35.75 for the sector, meaning that investors are optimistic about the stock’s future prospects. The company’s PE ratio for the last five years has touched a high of 56.00 and a low of 16.52. IDEX stock has a beta of -0.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 10.77 while the price-to-book (PB) in the most recent quarter is 1.57.

Ideanomics Inc.’s quick ratio for the period ended June 29 was 3.50, with the current ratio over the same period at 3.50 meaning that IDEX stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.15. In terms of profitability, the gross margin trailing 12 months is 25.00%The trailing 12-month EBITDA margin is -166.37% while for the period ending June 29; Ideanomics Inc.’s operating margin was -88.00%. The firm’s gross profit as reported stood at $2.06 million against revenue of $26.76 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Ideanomics Inc.’s cash and short-term investments amounted to $15.36 million against total debt of $94.94 million. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected IDEX to announce -$0.01 per share in earnings in its latest quarter, but it posted -$0.02, representing a -100.00% surprise. EBITDA for the quarter stood at more than -$9.05 million. IDEX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 145.39 million, with total debt at $94.94 million. Shareholders hold equity totaling $479.03 million

Technical Picture

Let’s look briefly at Ideanomics Inc. (IDEX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 01 October was 30.63% to suggest the stock is trending Neutral, with historical volatility in this time period at 52.65%.

The stock’s 5-day moving average is $1.9510, reflecting a -11.50% or -$0.2450 change from its current price. IDEX is currently trading -21.46% above its 20-day SMA, -24.60% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -23.37% and +1.34% respectively.

Stochastic %K and %D was 13.28% and 11.84% and the average true range (ATR) pointed at 0.1135. The RSI (14) points at 34.32%, while the 14-day stochastic is at 5.68% with the period’s ATR at 0.1192. The stock’s 9-day MACD Oscillator is pointing at -0.0867 and -0.1368 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Ideanomics Inc. (NASDAQ: IDEX), ROTH Capital launched coverage with a Buy rating. Analysts offering their rating for IDEX stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate IDEX as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is IDEX’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $7.00 and a high of $7.00, with their median price target at $7.00. Looking at these predictions, the average price target given by analysts is for Ideanomics Inc. (IDEX) stock is $7.00.


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