Ideanomics Inc. (IDEX) Reached A New High 2 times During The Past Five Days

As of Friday close, Ideanomics Inc.’s (NASDAQ:IDEX) stock was up $0.08, moving up 15.02 percent to $0.62. The average number of shares traded per day over the past five days has been 5,804,020 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0150 fall in that time frame. In the last twenty days, the average volume was 5,328,270, while in the previous 50 days, it was 5,845,868.

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Since last month, IDEX stock retreated -29.90%. Shares of the company fell to $0.5071 on 05/12/22, the lowest level in the past month. A 52-week high of $3.61 was reached on 01/04/22 after having rallying from a 52-week low of $0.51. Since the beginning of this year, IDEX’s stock price has dropped by -48.04% or -$0.5765, and marked a new high 2 times. However, the stock has declined by -82.73% since its 52-week high.

Ideanomics Inc. (IDEX) last reported insider trading activity 113 days ago on Jan 21. Poor Alfred, the Chief Executive Officer of the company, purchased of 19,775 shares for $1.01 on Jan 21. It resulted in a $19,973 investment by the insider. Poor Alfred added 14,500 shares at an average price of $1.07 on Jan 20. The insider now owns 1,469,350 shares following the transaction. On Jan 12, Chief Executive Officer Poor Alfred bought 62,975 shares at $1.19 apiece. The transaction was valued at $75,000.

Valuation Metrics

The stock’s beta is 0.11. Besides these, the trailing price-to-sales (P/S) ratio of 3.34, the price-to-book (PB) ratio of 0.56.

Financial Health

In the three months ended September 29, Ideanomics Inc.’s quick ratio stood at 7.90, while its current ratio was 8.00, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 26.00% percent. Based on annual data, IDEX earned $2.06 million in gross profit and brought in $26.76 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -42.70%. Return on equity (ROE) for the past 12 months was -27.90%.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. IDEX’s revenue rose 21.48% to $30.85 million during the quarter, while net income inched up to $27.05 million. While analysts expected Ideanomics Inc. to report -$0.01 quarterly earnings, the actual figure was -$0.11 per share. During the quarter, the company generated -$49.85 million in EBITDA. The liabilities of Ideanomics Inc. were 62.01 million at the end of its most recent quarter ended September 29, and its total debt was $9.2 million. The value of shareholders’ equity is $497.68 million.

Technical Picture

This quick technical analysis looks at Ideanomics Inc.’s (IDEX) price momentum. With a historical volatility rate of 114.07%, the RSI 9-day stood at 40.68% on 13 May.

With respect to its five-day moving average, the current Ideanomics Inc. price is down by -2.35% percent or -$0.0150. At present, IDEX shares trade -29.36% below its 20-day simple moving average and -54.49% percent below its 100-day simple moving average. However, the stock is currently trading approximately -33.09% below its SMA50 and -74.24% below its SMA200.

Stochastic coefficient K was 18.97% and Stochastic coefficient D was 8.89%, while ATR was 0.0628. Given the Stochastic reading of 44.28% for the 14-day period, the RSI (14) reading has been calculated as 37.82%. As of today, the MACD Oscillator reading stands at -0.0542, while the 14-day reading stands at -0.0911.

Analyst Ratings

Ideanomics Inc. downgraded its rating on Ideanomics Inc. (NASDAQ: IDEX) to a Neutral in a note to investors on April 07, 2022. The analysts firm previously had a Buy rating on the stock.Ideanomics Inc. (IDEX) has been rated Overweight by analysts. According to 0 brokerage firms, IDEX is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Ideanomics Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $2.00, the current consensus forecast for the stock is $1.00 – $3.00. Based on these forecasts, analysts predict Ideanomics Inc. (IDEX) will achieve an average price target of $2.00.


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