Ideanomics Inc. (NASDAQ:IDEX) saw a downside of -17.20% to close Tuesday at $0.06 after subtracting -$0.02 on the day. The 5-day average trading volume is 36,718,758 shares of the company’s common stock. It has gained $0.0980 in the past week and touched a new high 2 times within the past 5 days. An average of 27,358,734 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 65,973,203.
IDEX’s 1-month performance is -27.94% or -$0.0272 on its low of $0.0640 reached on 08/08/23. The company’s shares have touched a 52-week low of $0.02 and high of $0.73, with the stock’s rally to the 52-week high happening on 01/30/23. YTD, IDEX has lost -60.37% or -$0.0990 and has reached a new high 7 times. However, the current price is down -91.15% from the 52-week high price.
Valuation Metrics
IDEX stock has a beta of 0.71. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.51 while the price-to-book (PB) in the most recent quarter is 0.27.
Ideanomics Inc.’s quick ratio for the period ended December 30 was 1.10, with the current ratio over the same period at 1.50. As well, the company’s long term debt to equity for the quarter ending December 30 was 0.02, while the total debt to equity was 0.13.. In terms of profitability, the gross margin trailing 12 months is -0.80%. The trailing 12-month EBITDA margin is -147.94%. The firm’s gross profit as reported stood at -$0.81 million against revenue of $100.94 million.
Earnings Surprise
For the quarterly period ending December 30 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -126.85% to -$84.32 million, while revenue of -$143.92 million was -70.68% off the previous quarter. Analysts expected IDEX to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.3, representing a -275.00% surprise. EBITDA for the quarter stood at more than -$82.64 million. IDEX stock balance sheet for the quarter ending December 30 shows that total liabilities totaled 212.27 million, with total debt at $31.05 million. Shareholders hold equity totaling $1.38 billion.
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 08 August was 25.03% to suggest the stock is trending oversold, with historical volatility in this time period at 131.64%.
The stock’s 5-day moving average is $0.0829, reflecting a -29.73% or -$0.0275 change from its current price. IDEX is currently trading -30.78% above its 20-day SMA, -41.18% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +59.31% and SMA200 by-73.74%.
Stochastic %K and %D was 28.57% and 44.16% and the average true range (ATR) pointed at 0.0096. The RSI (14) points at 33.99%, while the 14-day stochastic is at 2.94% with the period’s ATR at 0.0096. The stock’s 9-day MACD Oscillator is pointing at -0.0072 and -0.0073 on the 14-day charts.
Analyst Ratings
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 $243.10 and a high of $243.10, with their median price target at $243.10. Looking at these predictions, the average price target given by analysts is for Ideanomics Inc. (IDEX) stock is $243.10.
