Ideanomics Inc. (NASDAQ:IDEX) saw a downside of -0.78% to close Monday at $0.18 after subtracting $0.0 on the day. The 5-day average trading volume is 10,363,520 shares of the company’s common stock. It has gained $0.2024 in the past week and touched a new high 1 time within the past 5 days. An average of 8,992,120 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 7,865,164.
IDEX’s 1-month performance is -3.46% or $0.0255 on its low of $0.1420 reached on 12/28/22. The company’s shares have touched a 52-week low of $0.14 and high of $1.15, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, IDEX has achieved 8.90% or $0.0146 and has reached a new high 5 times. However, the current price is down -84.47% from the 52-week high price.
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IDEX stock has a beta of 0.58. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.91 while the price-to-book (PB) in the most recent quarter is 0.34.
Ideanomics Inc.’s quick ratio for the period ended September 29 was 2.30, with the current ratio over the same period at 2.70. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.01, while the total debt to equity was 0.06. In terms of profitability, the gross margin trailing 12 months is -0.50%. The firm’s gross profit as reported stood at $23.23 million against revenue of $114.08 million.
For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 80.03% to -$37.41 million, while revenue of -$28.51 million was 23.79% off the previous quarter. Analysts expected IDEX to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.08, representing a -60.00% surprise. EBITDA for the quarter stood at more than -$39.6 million. IDEX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 86.42 million, with total debt at $31.52 million. Shareholders hold equity totaling $563.6 million.
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 23 January was 47.08% to suggest the stock is trending Neutral, with historical volatility in this time period at 87.50%.
The stock’s 5-day moving average is $0.1823, reflecting a -8.74% or -$0.0171 change from its current price. IDEX is currently trading +4.44% above its 20-day SMA, -71.87% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -23.02% and SMA200 by-83.46%.
Stochastic %K and %D was 46.40% and 52.43% and the average true range (ATR) pointed at 0.0146. The RSI (14) points at 45.70%, while the 14-day stochastic is at 46.49% with the period’s ATR at 0.0157. The stock’s 9-day MACD Oscillator is pointing at -0.0101 and -0.0023 on the 14-day charts.
In the most recent analyst report for Ideanomics Inc. (NASDAQ: IDEX), ROTH Capital downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for IDEX stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate IDEX as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 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 $1.00 and a high of $1.00, with their median price target at $1.00. Looking at these predictions, the average price target given by analysts is for Ideanomics Inc. (IDEX) stock is $1.00.