Watching Ideanomics Inc. (IDEX) For Insider Activity

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BEPC Stock

Ideanomics Inc. (NASDAQ:IDEX) finished Thursday with an addition of $0.02 to close at $0.16, an upside of 12.34 percent. An average of 8,319,960 shares of common stock have been traded in the last five days. There was a fall of -$0.0090 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 7,203,675 shares traded, while the 50-day average volume stands at 8,999,390.

IDEX stock has decreased by -29.57% in the last month. The company shares reached their 1-month lowest point of $0.1420 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $0.14 and a high of $1.45 in 52 weeks. It has reached a new high 2 times so far this year and lost -86.50% or -$1.0380 in price. In spite of this, the price is down -88.83% from the 52-week high.

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Valuation Metrics

Ideanomics Inc. (IDEX) stock’s beta is 0.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.86, the price-to-book (PB) ratio at 0.31.

Financial Health

The quick ratio of Ideanomics Inc. for the three months ended September 29 was 2.30, and the current ratio was 2.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.06 for the quarter ending September 29. Its gross profit as reported stood at $23.23 million compared to revenue of $114.08 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ideanomics Inc.’s return on assets was -66.40%.

Earnings Surprise

For the three-month period that ended September 29, Ideanomics Inc. had $1.56 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$37.41 million in the quarter, while revenues of -$28.51 million were grew 80.03%. The analyst consensus anticipated Ideanomics Inc.’s latest quarter earnings to come in at -$0.05 per share, but it turned out to be -$0.08, a -60.00% surprise. For the quarter, EBITDA amounted to -$39.6 million. Shareholders own equity worth $563.6 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Ideanomics Inc. (IDEX) price momentum. RSI 9-day as of the close on 29 December was 34.89%, suggesting the stock is Neutral, with historical volatility in this time frame at 94.80%.

As of today, IDEX’s price is $0.1518 -5.26% or -$0.0090 from its 5-day moving average. IDEX is currently trading -26.36% lower than its 20-day SMA and -77.76% lower than its 100-day SMA. However, the stock’s current price level is -32.50% below the SMA50 and -80.96% below the SMA200.

The stochastic %K and %D were 7.99% and 3.59%, respectively, and the average true range (ATR) was 0.0152. With the 14-day stochastic at 21.51% and the average true range at 0.0168, the RSI (14) stands at 34.51%. The stock has reached -0.0183 on the 9-day MACD Oscillator while the 14-day reading was at -0.0323.

Analyst Ratings

ROTH Capital downgraded Ideanomics Inc. (NASDAQ: IDEX) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Ideanomics Inc. (IDEX) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IDEX, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.


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