The stock of Ideanomics Inc. (NASDAQ:IDEX) decreased by $0.0 on Monday to finish at $0.05, down -2.00 percent. The last five days have seen an average of 60,034,617 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$0.1150. The average number of shares traded over the last 20 days was 32,382,426, while the average volume over the last 50 days totaled 66,762,805.
IDEX stock dropped -46.80% since last month. On 08/14/23, the company’s shares reached a one-month low of $0.0473. The stock touched a high of $0.72 on 01/30/23, after rallying from a low of $0.02 in 52 weeks. The price of IDEX stock has declined by -70.12% or -$0.1150 this year, reaching a new high 7 times. Still, the stock price is down -93.19% from the 52-week high.
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Insider Transactions
IDEX stock investors should be aware that Ideanomics Inc. (IDEX) stock had its last reported insider trading activity 298 days ago on Oct 21. On Oct 21, Chief Executive Officer Poor Alfred acquired 400,000 shares at $0.25 each. This transaction resulted in the insider spending $100,000.
Valuation Metrics
Beta for the stock is 0.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.84, the price-to-book (PB) ratio of 0.41.
Financial Health
For the three months ended December 30, Ideanomics Inc.’s quick ratio was 0.40, while its current ratio was 0.60, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending December 30 is 0.02, and the total debt to equity ratio is 0.14. As far as profitability goes, gross margin for the trailing twelve months is -1.60% percent. Based on annual data, it had gross profit of -$0.81 million and revenue of $100.94 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IDEX’s return on assets (ROA) during the last 12 months has been -93.00%. There was a -191.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -162.70%.
Earnings Surprise
According to Ideanomics Inc.’s quarterly financial report for the quarter that ended December 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $10.43 million, while revenues fell by -151.68% to $24.22 million. It was predicted that Ideanomics Inc.’s quarterly earnings would be -$0.3, but it ended up being -$0.08, beating the consensus by -275.00%. EBITDA was -$82.64 million for the quarter. At the end of Ideanomics Inc.’s most recent quarter ended December 30, its liabilities totaled 212.27 million, while its total debt was $31.05 million. Equity owned by shareholders amounts to $1.38 billion.
Technical Picture
Here’s a quick look at Ideanomics Inc.’s (IDEX) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 17.36%, suggesting the stock is oversold, with a 86.76% historical volatility rate.
The stochastic %K and %D were 4.85% and 6.61% respectively, while the average true range (ATR) was 0.0088. Based on the 14-day stochastic reading of 3.35%, the RSI (14) reading is 26.60%. On the 9-day MACD Oscillator, the stock is at -0.0185, and the 14-day reading is at -0.0248.
Analyst Ratings
Ideanomics Inc. (NASDAQ: IDEX) was downgraded by ROTH Capital to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy.
What is IDEX’s price target for the next 12 months?
The current consensus forecast for the stock is between $243.10 and $243.10, with a median target price of $243.10. In analyzing these forecasts, the average price target given by analysts for Ideanomics Inc. (IDEX) is $243.10.
