Ideanomics (NASDAQ:IDEX) Raised to “Buy” at ValuEngine

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

Shares of IDEX stock opened at $2.01 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $244.51 million, a P/E ratio of -1.90 and a beta of -2.21. The company’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $0.74. Ideanomics has a 52 week low of $0.28 and a 52 week high of $3.98.

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

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in Ideanomics by 82.9% during the 1st quarter. Royal Bank of Canada now owns 29,381 shares of the company’s stock worth $38,000 after buying an additional 13,321 shares during the period. Geode Capital Management LLC raised its holdings in Ideanomics by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 371,823 shares of the company’s stock worth $318,000 after buying an additional 19,522 shares during the period. UBS Group AG raised its holdings in shares of Ideanomics by 60.5% in the fourth quarter. UBS Group AG now owns 71,200 shares of the company’s stock valued at $61,000 after purchasing an additional 26,835 shares during the last quarter. American International Group Inc. raised its holdings in shares of Ideanomics by 95.3% in the first quarter. American International Group Inc. now owns 60,756 shares of the company’s stock valued at $81,000 after purchasing an additional 29,647 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Ideanomics in the first quarter valued at approximately $50,000. Hedge funds and other 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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