Ideanomics (NASDAQ:IDEX) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Ideanomics (NASDAQ:IDEX) posted its quarterly earnings data on Tuesday. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.10), MarketWatch Earnings reports. Ideanomics had a negative return on equity of 19.57% and a negative net margin of 79.71%.

Ideanomics stock opened at $1.59 on Thursday. The stock’s 50 day moving average is $1.95 and its 200 day moving average is $2.38. The firm has a market cap of $759.26 million, a P/E ratio of -6.10 and a beta of -0.42. Ideanomics has a one year low of $1.39 and a one year high of $5.53.

Separately, Zacks Investment Research raised Ideanomics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 19th.

In related news, Chairman Shane Mcmahon sold 500,000 shares of Ideanomics stock in a transaction that occurred on Friday, September 24th. The stock was sold at an average price of $2.06, for a total value of $1,030,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Ideanomics by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 1,298,405 shares of the company’s stock valued at $2,557,000 after buying an additional 157,166 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Ideanomics by 92.5% in the third quarter. BNP Paribas Arbitrage SA now owns 118,000 shares of the company’s stock valued at $232,000 after buying an additional 56,715 shares during the period. Janus Henderson Group PLC acquired a new position in Ideanomics in the third quarter valued at approximately $75,000. UBS Group AG lifted its stake in Ideanomics by 307.4% in the third quarter. UBS Group AG now owns 18,070 shares of the company’s stock valued at $36,000 after buying an additional 13,635 shares during the period. Finally, Millennium Management LLC lifted its stake in Ideanomics by 236.5% in the third quarter. Millennium Management LLC now owns 736,112 shares of the company’s stock valued at $1,450,000 after buying an additional 517,340 shares during the period. 15.29% of the stock is currently owned by hedge funds and other institutional investors.

Ideanomics Company Profile

Ideanomics, Inc is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech product. The firm operates through the Mobile Energy Global (MEG) and Ideanomics Capital business units. Its electric vehicle division, MEG, provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as financing and charging solutions.

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Earnings History for Ideanomics (NASDAQ:IDEX)

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