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Is Ideanomics Inc. (NASDAQ:IDEX) Worth A Patient Look At Current Prices?

Ideanomics Inc. (NASDAQ:IDEX)’s traded shares stood at 17.83 million during the last session, with the company’s beta value hitting 0.65. At the close of trading, the stock’s price was $0.11, to imply a decrease of -0.81% or $0.0 in intraday trading. The IDEX share’s 52-week high remains $1.15, putting it -945.45% down since that peak but still an impressive 9.09% since price per share fell to its 52-week low of $0.10. The company has a valuation of $78.28M, with an average of 18.57 million shares in intraday trading volume over the past 10 days and average of 14.56 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Ideanomics Inc. (IDEX), translating to a mean rating of 3.00. Of 1 analyst(s) looking at the stock, 0 analyst(s) give IDEX a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.08.

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Ideanomics Inc. (NASDAQ:IDEX) trade information

After registering a -0.81% downside in the last session, Ideanomics Inc. (IDEX) has traded red over the past five days. The stock hit a weekly high of 0.1207 this Wednesday, 03/15/23, dropping -0.81% in its intraday price action. The 5-day price performance for the stock is -4.16%, and -25.79% over 30 days. With these gigs, the year-to-date price performance is -32.62%. Short interest in Ideanomics Inc. (NASDAQ:IDEX) saw shorts transact 44.07 million shares and set a 3.72 days time to cover.

Analysts on Wall Street suggest a consensus price target of $1.00, implying an increase of 89.0% to the stock’s current value. The extremes give us $1.00 and $1.00 for target low and target high price respectively. As such, IDEX has been trading -809.09% off suggested target high and -809.09% from its likely low.

Ideanomics Inc. (IDEX) estimates and forecasts

The rating firms project that company’s revenue will grow 16.30% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $48.8 million. Meanwhile, for the quarter ending Mar 2023, a total of 1 analyst(s) estimate revenue growth to $84.5 million.Earnings reports from the last fiscal year show that sales brought in $26.25 million and $25.39 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 85.90% before jumping 232.80% in the following quarter.

IDEX Dividends

Ideanomics Inc. has its next earnings report out on March 16. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Ideanomics Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Ideanomics Inc. insiders hold 11.97% of total outstanding shares, with institutional holders owning 3.58% of the shares at 4.07% float percentage. In total, 3.58% institutions holds shares in the company, led by State Street Corporation. As of Sep 29, 2022, the company held over 4.54 million shares (or 0.67% of shares), all amounting to roughly $1.25 million.

The next major institution holding the largest number of shares is Millennium Management Llc with 3.51 million shares, or about 0.52% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $0.97 million.

We also have SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and SPDR (R) Ser Tr-SPDR S&P Kensho Intelligent Structures ETF as the top two Mutual Funds with the largest holdings of the Ideanomics Inc. (IDEX) shares. Going by data provided on Dec 30, 2022, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF holds roughly 7.76 million shares. This is just over 1.15% of the total shares, with a market valuation of $1.27 million. Data from the same date shows that the other fund manager holds a little less at 0.88 million, or 0.13% of the shares, all valued at about 0.14 million.

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