Ideanomics (NASDAQ:IDEX) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Ideanomics (NASDAQ:IDEX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, ValuEngine reports.

NASDAQ:IDEX opened at $2.01 on Friday. The stock has a market cap of $244.51 million, a P/E ratio of -1.90 and a beta of -2.21. Ideanomics has a one year low of $0.28 and a one year high of $3.98. The company has a fifty day moving average price of $1.01 and a 200 day moving average price of $0.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.33 and a quick ratio of 0.33.

Ideanomics (NASDAQ:IDEX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter. Ideanomics had a negative net margin of 726.61% and a negative return on equity of 159.65%. The business had revenue of $0.38 million during the quarter.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Ideanomics by 85.5% in the 1st quarter. BlackRock Inc. now owns 4,634,048 shares of the company’s stock valued at $6,210,000 after buying an additional 2,136,005 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ideanomics by 60.6% in the 1st quarter. Bank of New York Mellon Corp now owns 268,095 shares of the company’s stock valued at $359,000 after buying an additional 101,121 shares in the last quarter. State Street Corp raised its stake in shares of Ideanomics by 38.3% in the 1st quarter. State Street Corp now owns 1,441,356 shares of the company’s stock valued at $1,931,000 after buying an additional 398,973 shares in the last quarter. American International Group Inc. raised its stake in shares of Ideanomics by 95.3% in the 1st quarter. American International Group Inc. now owns 60,756 shares of the company’s stock valued at $81,000 after buying an additional 29,647 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Ideanomics in the 4th quarter valued at $181,000. Institutional investors own 6.93% of the company’s stock.

Ideanomics Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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