Ideanomics (NASDAQ:IDEX) Trading Up 5.9%

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Ideanomics (NASDAQ:IDEX)’s stock price was up 5.9% during mid-day trading on Wednesday . The stock traded as high as $1.65 and last traded at $1.61, approximately 564,532 shares traded hands during mid-day trading. A decline of 7% from the average daily volume of 608,231 shares. The stock had previously closed at $1.52.

Separately, ValuEngine upgraded Ideanomics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

The business has a 50 day simple moving average of $1.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $208.04 million, a P/E ratio of 40.00 and a beta of 2.62.

Ideanomics (NASDAQ:IDEX) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.05 EPS for the quarter. The business had revenue of $14.45 million during the quarter. Ideanomics had a return on equity of 15.98% and a net margin of 9.81%.

Institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new stake in Ideanomics during the second quarter worth about $33,000. Stelac Advisory Services LLC purchased a new position in shares of Ideanomics during the second quarter valued at approximately $123,000. National Asset Management Inc. bought a new stake in shares of Ideanomics in the 1st quarter worth approximately $60,000. Lake Street Financial LLC bought a new stake in shares of Ideanomics in the 2nd quarter worth approximately $66,000. Finally, BlackRock Inc. bought a new stake in shares of Ideanomics in the 2nd quarter worth approximately $5,949,000. Institutional investors own 4.31% of the company’s stock.

Ideanomics Company Profile (NASDAQ:IDEX)

Ideanomics, Inc operates as a financial technology and asset digitization services company. The company operates in two segments, Legacy YOD and Wecast Service. It engages in the provision of business consulting services related to traditional financings, as well as in developing digital asset securitization services through artificial intelligence and blockchain enabled financial services platforms.

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