As of Friday close, Ideanomics Inc.’s (NASDAQ:IDEX) stock traded at $0.09. The average number of shares traded per day over the past five days has been 29,427,840 shares. 3 times new highs have been achieved over the past 5 days, with a $0.0062 gain in that time frame. In the last twenty days, the average volume was 25,584,830, while in the previous 50 days, it was 65,264,902.
Since last month, IDEX stock retreated -0.88%. Shares of the company fell to $0.0800 on 07/27/23, the lowest level in the past month. A 52-week high of $0.75 was reached on 01/30/23 after having rallying from a 52-week low of $0.02. Since the beginning of this year, IDEX’s stock price has dropped by -45.18% or -$0.0741, and marked a new high 7 times. However, the stock has declined by -88.01% since its 52-week high.
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IDEX stock investors should be aware that Ideanomics Inc. (IDEX) stock had its last reported insider trading activity 288 days ago on Oct 21. Poor Alfred, the Chief Executive Officer of the company, purchased of 400,000 shares for $0.25 on Oct 21. It resulted in a $100,000 investment by the insider.
Valuation Metrics
The stock’s beta is 0.69. Besides these, the trailing price-to-sales (P/S) ratio of 0.68, the price-to-book (PB) ratio of 0.37.
Financial Health
In the three months ended December 30, Ideanomics Inc.’s quick ratio stood at 1.10, while its current ratio was 1.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending December 30 was 0.02, and the total debt-to-equity ratio was 0.13. On the profitability front, the trailing twelve-month gross margin is -0.80% percent. Based on annual data, IDEX earned -$0.81 million in gross profit and brought in $100.94 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 -191.60%. Return on equity (ROE) for the past 12 months was -101.30%.
In Ideanomics Inc.’s quarter-end financial report for December 30, it reported total debt of $1.96 million. 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 fell -11.68% to $24.28 million during the quarter, while net income inched up to $24.22 million. While analysts expected Ideanomics Inc. to report -$0.08 quarterly earnings, the actual figure was -$0.3 per share, beating the consensus estimate by -275.00%. During the quarter, the company generated -$168.15 million in EBITDA. The liabilities of Ideanomics Inc. were 96.24 million at the end of its most recent quarter ended December 30, and its total debt was $33.06 million. The value of shareholders’ equity is $787.02 million.
Technical Picture
This quick technical analysis looks at Ideanomics Inc.’s (IDEX) price momentum. With a historical volatility rate of 71.30%, the RSI 9-day stood at 53.03% on 04 August.
With respect to its five-day moving average, the current Ideanomics Inc. price is up by +7.41% percent or $0.0062. At present, IDEX shares trade -2.49% below its 20-day simple moving average and -22.10% percent below its 100-day simple moving average. However, the stock is currently trading approximately +116.63% above its SMA50 and -61.42% below its SMA200.
Stochastic coefficient K was 56.38% and Stochastic coefficient D was 53.17%, while ATR was 0.0078. Given the Stochastic reading of 55.00% for the 14-day period, the RSI (14) reading has been calculated as 53.67%.
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 Hold 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 0 recommending it as overweight.
With a median target price of $243.10, the current consensus forecast for the stock is $243.10 – $243.10. Based on these forecasts, analysts predict Ideanomics Inc. (IDEX) will achieve an average price target of $243.10.
