Ideanomics (NASDAQ:IDEX) Announces Quarterly Earnings Results

Ideanomics (NASDAQ:IDEX) posted its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.10), Fidelity Earnings reports. Ideanomics had a negative net margin of 79.71% and a negative return on equity of 19.57%. During the same period in the prior year, the firm earned ($0.03) EPS.

Shares of IDEX traded up $0.12 during mid-day trading on Thursday, reaching $1.59. The company had a trading volume of 19,508,814 shares, compared to its average volume of 21,934,818. The firm has a 50-day moving average price of $1.94 and a 200 day moving average price of $2.37. Ideanomics has a 52 week low of $1.39 and a 52 week high of $5.53. The company has a market capitalization of $759.26 million, a price-to-earnings ratio of -6.10 and a beta of -0.42.

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

In other news, Chairman Shane Mcmahon sold 500,000 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its position in Ideanomics by 236.5% in the 3rd quarter. Millennium Management LLC now owns 736,112 shares of the company’s stock valued at $1,450,000 after acquiring an additional 517,340 shares in the last quarter. Morgan Stanley lifted its position in Ideanomics by 44.7% in the 2nd quarter. Morgan Stanley now owns 613,698 shares of the company’s stock valued at $1,743,000 after acquiring an additional 189,590 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ideanomics by 13.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,298,405 shares of the company’s stock valued at $2,557,000 after acquiring an additional 157,166 shares in the last quarter. Invesco Ltd. bought a new position in Ideanomics in the 2nd quarter valued at approximately $401,000. Finally, BNP Paribas Arbitrage SA lifted its position in Ideanomics by 92.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 118,000 shares of the company’s stock valued at $232,000 after acquiring an additional 56,715 shares in the last quarter. 15.29% of the stock is currently owned by hedge funds and other institutional investors.

About Ideanomics

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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