Ideanomics (NASDAQ:IDEX) Trading Up 12.2%

Ideanomics (NASDAQ:IDEX) was up 12.2% during mid-day trading on Wednesday . The company traded as high as $0.57 and last traded at $0.55, approximately 1,009,701 shares were traded during mid-day trading. An increase of 128% from the average daily volume of 441,988 shares. The stock had previously closed at $0.49.

Separately, ValuEngine upgraded shares of Ideanomics from a “hold” rating to a “buy” rating in a research note on Monday, November 25th.

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $74.83 million, a price-to-earnings ratio of 18.45 and a beta of 2.46. The stock’s 50 day simple moving average is $0.65 and its 200-day simple moving average is $1.13.

A number of hedge funds and other institutional investors have recently bought and sold shares of IDEX. Northern Trust Corp acquired a new stake in Ideanomics in the second quarter valued at approximately $106,000. BlackRock Inc. acquired a new stake in Ideanomics in the second quarter valued at approximately $5,949,000. Janney Montgomery Scott LLC lifted its stake in Ideanomics by 69.6% in the third quarter. Janney Montgomery Scott LLC now owns 19,500 shares of the company’s stock valued at $29,000 after acquiring an additional 8,000 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Ideanomics in the third quarter valued at approximately $75,000. Finally, Lake Street Financial LLC lifted its stake in Ideanomics by 70.9% in the fourth quarter. Lake Street Financial LLC now owns 45,800 shares of the company’s stock valued at $39,000 after acquiring an additional 19,000 shares during the last quarter. Hedge funds and other institutional investors own 4.30% of the company’s stock.

About Ideanomics (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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