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Ideanomics Inc. (NASDAQ:IDEX) Shares Plunges -26.23% In A Week – But Can It Keep Rising?

In last trading session, Ideanomics Inc. (NASDAQ:IDEX) saw 6.7 million shares changing hands with its beta currently measuring 0.10. Company’s recent per share price level of $0.40 trading at -$0.01 or -2.56% at ring of the bell on the day assigns it a market valuation of $198.35M. That closing price of IDEX’s stock is at a discount of -455.0% from its 52-week high price of $2.22 and is indicating a discount of -2.5% from its 52-week low price of $0.41. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.93 million shares which gives us an average trading volume of 5.54 million if we extend that period to 3-months.

Ideanomics Inc. (NASDAQ:IDEX) trade information

Upright in the red during last session for losing -2.56%, in the last five days IDEX remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $0.40 price level, adding 25.5% to its value on the day. Ideanomics Inc.’s shares saw a change of -66.67% in year-to-date performance and have moved -26.23% in past 5-day. Ideanomics Inc. (NASDAQ:IDEX) showed a performance of -32.27% in past 30-days. Number of shares sold short was 40.79 million shares which calculate 4.91 days to cover the short interests.

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Ideanomics Inc. (IDEX) estimates and forecasts

Statistics highlight that Ideanomics Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -58.63% of value to its shares in past 6 months, showing an annual growth rate of 8.70% while that of industry is 13.40. Apart from that, the company came raising its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 371.60% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $33.2 million for the same. And 2 analysts are in estimates of company making revenue of $40.1 million in the next quarter that will end on Mar 2022. Company posted $11.07 million and $32.71 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 199.90% while estimating it to be 22.60% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 4.90% during past 5 years.

IDEX Dividends

Ideanomics Inc. is more likely to be releasing its next quarterly report between November 21 and November 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Ideanomics Inc. (NASDAQ:IDEX)’s Major holders

Insiders are in possession of 6.09% of company’s total shares while institution are holding 16.92 percent of that, with stock having share float percentage of 18.01%. Investors also watch the number of corporate investors in a company very closely, which is 16.92% institutions for Ideanomics Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at IDEX for having 25.26 million shares of worth $28.29 million. And as of Mar 30, 2022, it was holding 5.07% of the company’s outstanding shares.

The second largest institutional holder is Shaw D.E. & Co., Inc., which was holding about 9.78 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 1.97% of outstanding shares, having a total worth of $10.96 million.

On the other hand, Fidelity Small Cap Index Fund and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF are the top two Mutual Funds which own company’s shares. As of Apr 29, 2022, the former fund manager was holding 3.85 million shares of worth $2.77 million or 0.77% of the total outstanding shares. The later fund manager was in possession of 1.58 million shares on Jun 29, 2022, making its stake of worth around $1.05 million in the company or a holder of 0.32% of company’s stock.

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