Ideanomics Inc. (NASDAQ: IDEX) stock fell -5.90% on Tuesday to $0.04 against a previous-day closing price of $0.04. With 47.92 million shares changed hands, the volume of the stock remained lighter than its average volume of 67.74 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $0.0444 whereas the lowest price it dropped to was $0.0413. The 52-week range on IDEX shows that it touched its highest point at $0.89 and its lowest point at $0.02 during that stretch. It currently has a 1-year price target of $1.00. Beta for the stock currently stands at 0.46.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IDEX was down-trending over the past week, with a drop of -7.78%, but this was up by 4.01% over a month. Three-month performance dropped to -71.54% while six-month performance fell -84.33%. The stock lost -92.75% in the past year, while it has lost -74.70% so far this year. A look at the trailing 12-month EPS for IDEX yields -0.49 with Next year EPS estimates of -0.10. For the next quarter, that number is -0.04. This implies an EPS growth rate of 11.10% for this year and 58.30% for next year.
Float and Shares Shorts:
At present, 561.63 million IDEX shares are outstanding with a float of 533.65 million shares on hand for trading. On Apr 27, 2023, short shares totaled 55.57 million, which was 7.06% higher than short shares on Mar 30, 2023. In addition to Mr. Shane B. McMahon as the firm’s Founder & Independent Exec. Chairman, Mr. Alfred P. Poor serves as its CEO & Director.
Through their ownership of 2.31% of IDEX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 1.88% of IDEX, in contrast to 1.30% held by mutual funds. Shares owned by individuals account for 0.60%. As the largest shareholder in IDEX with 1.31% of the stake, SSgA Funds Management, Inc. holds 10,287,874 shares worth 10,287,874. A second-largest stockholder of IDEX, Invesco Capital Management LLC, holds 2,803,259 shares, controlling over 0.36% of the firm’s shares. Citadel Securities LLC is the third largest shareholder in IDEX, holding 1,113,318 shares or 0.14% stake. With a 1.03% stake in IDEX, the SPDR S&P Kensho New Economies Com is the largest stakeholder. A total of 8,087,791 shares are owned by the mutual fund manager. The Invesco FTSE RAFI US 1500 Small M, which owns about 0.36% of IDEX stock, is the second-largest Mutual Fund holder. It holds 2,793,955 shares valued at 67055.0. SPDR S&P Kensho Intelligent Struc holds 0.11% of the stake in IDEX, owning 888,181 shares worth 21316.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, IDEX reported revenue of $34.20M and operating income of -$40.22M. The EBITDA in the recently reported quarter was -$35.41M and diluted EPS was -$0.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IDEX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IDEX analysts setting a high price target of $1.00 and a low target of $1.00, the average target price over the next 12 months is $1.00. Based on these targets, IDEX could surge 2400.0% to reach the target high and rise by 2400.0% to reach the target low. Reaching the average price target will result in a growth of 2400.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded IDEX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 400,000 while 0 shares were sold.