Ideanomics Inc. (NASDAQ:IDEX) has a beta value of 0.58 and has seen 13.47 million shares traded in the last trading session. The company, currently valued at $99.82M, closed the last trade at $0.18 per share which meant -0.78% during that session. The IDEX stock price is -538.89% off its 52-week high price of $1.15 and 22.22% above the 52-week low of $0.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 9.76 million shares traded. The 3-month trading volume is 8.97 million shares.
The consensus among analysts is that Ideanomics Inc. (IDEX) is a Hold stock at the moment, with a recommendation rating of 3.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 1 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.05.
Ideanomics Inc. (NASDAQ:IDEX) trade information
Sporting -0.78% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the IDEX stock price touched $0.18 or saw a rise of 11.07%. Year-to-date, Ideanomics Inc. shares have moved 8.90%, while the 5-day performance has seen it change -8.74%. Over the past 30 days, the shares of Ideanomics Inc. (NASDAQ:IDEX) have changed -3.46%. Short interest in the company has seen 36.51 million shares shorted with days to cover at 4.1.
Wall Street analysts have a consensus price target for the stock at $1.00, which means that the shares’ value could jump 82.0% from current levels. The projected low price target is $1.00 while the price target rests at a high of $1.00. In that case, then, we find that the current price level is -455.56% off the targeted high while a plunge would see the stock gain -455.56% from current levels.
Ideanomics Inc. (IDEX) estimates and forecasts
Figures show that Ideanomics Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -74.49% over the past 6 months, with this year growth rate of -30.43%, compared to 12.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 54.50% and 60.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 32.90%.
1 analysts offering their estimates for the company have set an average revenue estimate of $43.2 million for the current quarter. 1 have an estimated revenue figure of $48.8 million for the next quarter concluding in Dec 2022. Year-ago sales stood $27.05 million and $26.25 million respectively for this quarter and the next, and analysts expect sales will grow by 59.70% for the current quarter and 85.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 4.90% over the past 5 years.
Ideanomics Inc. is expected to release its next earnings report on November 09 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Ideanomics Inc. (NASDAQ:IDEX)’s Major holders
Insiders own 5.44% of the company shares, while shares held by institutions stand at 7.36% with a share float percentage of 7.79%. Investors are also buoyed by the number of investors in a company, with Ideanomics Inc. having a total of 134 institutions that hold shares in the company. The top two institutional holders are Millennium Management Llc with over 8.27 million shares worth more than $5.48 million. As of Jun 29, 2022, Millennium Management Llc held 1.53% of shares outstanding.
The other major institutional holder is Shaw D.E. & Co., Inc., with the holding of over 6.82 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $4.52 million and represent 1.26% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Vanguard Russell 2000 Index Fund. As of Sep 29, 2022, the former fund manager holds about 0.30% shares in the company for having 1.64 million shares of worth $0.45 million while later fund manager owns 1.25 million shares of worth $0.75 million as of May 30, 2022, which makes it owner of about 0.23% of company’s outstanding stock.