During the last session, Ideanomics Inc. (NASDAQ:IDEX)’s traded shares were 30.41 million, with the beta value of the company hitting 0.46. The 52-week high for the IDEX share is $0.89, that puts it down -2125.0 from that peak though still a striking 50.0% gain since the share price plummeted to a 52-week low of $0.02. The company’s market capitalization is $32.36M, and the average intraday trading volume over the past 10 days was 45.72 million shares, and the average trade volume was 68.16 million shares over the past three months.
Ideanomics Inc. (IDEX) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. IDEX has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.04.
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Ideanomics Inc. (NASDAQ:IDEX) trade information
Ideanomics Inc. (IDEX) registered a -1.45% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.45% in intraday trading to $0.04 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -15.67%, and it has moved by 16.52% in 30 days. Based on these gigs, the overall price performance for the year is -92.71%. The short interest in Ideanomics Inc. (NASDAQ:IDEX) is 78.67 million shares and it means that shorts have 0.49 day(s) to cover.
The consensus price target of analysts on Wall Street is $1.00, which implies an increase of 96.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $1.00 respectively. As a result, IDEX is trading at a discount of -2400.0% off the target high and -2400.0% off the low.
Ideanomics Inc. (IDEX) estimates and forecasts
Statistics show that Ideanomics Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ideanomics Inc. (IDEX) shares have gone down -83.44% during the last six months, with a year-to-date growth rate more than the industry average at 27.27% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 33.30% this quarter and then jump 37.50% in the quarter after that. In the rating firms’ projections, revenue will increase 292.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $84.5 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $82.7 million by the end of Jun 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $25.39 million and $9.67 million respectively. In this case, analysts expect current quarter sales to grow by 232.80% and then jump by 755.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -24.30%. While earnings are projected to return 11.10% in 2023.
Ideanomics Inc. is due to release its next quarterly earnings on March 30. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Ideanomics Inc. (NASDAQ:IDEX)’s Major holders
Ideanomics Inc. insiders own 10.25% of total outstanding shares while institutional holders control 2.31%, with the float percentage being 2.58%. State Street Corporation is the largest shareholder of the company, while 79 institutions own stock in it. As of Mar 30, 2023, the company held over 10.59 million shares (or 1.35% of all shares), a total value of $1.14 million in shares.
The next largest institutional holding, with 2.8 million shares, is of Invesco Ltd.’s that is approximately 0.36% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $0.3 million.
Also, the Mutual Funds coming in first place with the largest holdings of Ideanomics Inc. (IDEX) shares are SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF and Invesco ETF Tr-Invesco FTSE RAFI US 1500 Small-Mid ETF. Data provided on Mar 30, 2023 indicates that SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF owns about 7.94 million shares. This amounts to just over 1.01 percent of the company’s overall shares, with a $0.86 million market value. The same data shows that the other fund manager holds slightly less at 2.8 million, or about 0.36% of the stock, which is worth about $0.3 million.