Look At Analyst Expectations For A Better Read On Ideanomics Inc. (NASDAQ: IDEX)

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Susquehanna Financial Group LLLP recently announced the acquisition of new stake in Ideanomics Inc. (NASDAQ:IDEX). The institutional investor has increased its shareholding in the Technology company by 2,720.97% to 1.53 million shares with purchase of 1.47 million shares. This fresh investment now brings its stake to 0.91% valued currently at $2.25 million. In addition, Jane Street Capital LLC raised its holdings by 0.5 million to 0.5 million shares.

With over 3.12 million Ideanomics Inc. (IDEX) shares trading Friday and a closing price of $1.28 on the day, the dollar volume was approximately $3.99 million. The shares have shown a positive weekly performance of 4.07% and its price on 08/28/20 lost nearly -0.78%. Currently, there are 237.30M common shares owned by the public and among those 203.22M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for IDEX have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00 should the stock experience a downside. But an upside of 74.4% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 320,000 shares.

The top 3 mutual fund holders in Ideanomics Inc. are Fidelity Small Cap Index Fund, Schwab Small Cap Index Fund, and SPDR S&P China ETF. Fidelity Small Cap Index Fund owns 0.61 million shares of the company’s stock, all valued at over $0.9 million. The company bought an additional 0.35 million shares recently to bring their total holdings to about 0.37% of the shares outstanding. SPDR S&P China ETF now owns shares totaling to 0.12% of the shares outstanding.

Shares of Ideanomics Inc. (NASDAQ: IDEX) opened at $1.299, up $0.01 from a prior closing price of $1.29. However, the script later closed the day at $1.28, down -0.78%. The company’s stock has a 5-day price change of 4.07% and 223.07% over the past three months. IDEX shares are trading 49.59% year to date (YTD), with the 12-month market performance down to -20.50% lower. It has a 12-month low price of $0.28 and touched a high of $3.98 over the same period. Currently, 3.12 million shares have been traded, compared to an average intraday trading volume of 36.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.67%, -18.49%, and 42.23% respectively.

Institutional ownership of Ideanomics Inc. (NASDAQ: IDEX) shares accounts for 2.40% of the company’s 237.30M shares outstanding. Mutual fund holders own 1.17%, while other institutional holders and individual stakeholders account for 2.17% and 0.48% respectively.

It has a market capitalization of $306.10M and a beta (3y monthly) value of -2.16. The earnings-per-share (ttm) stands at -$1.14. The company has a debt-to-equity ratio at 0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.54% over the week and 10.18% over the month.

Analysts forecast that Ideanomics Inc. (IDEX) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”


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