Ideanomics (NASDAQ:IDEX) Shares Gap Down to $2.36

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Ideanomics, Inc. (NASDAQ:IDEX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.36, but opened at $2.29. Ideanomics shares last traded at $2.51, with a volume of 132,010 shares changing hands.

Separately, Roth Capital began coverage on shares of Ideanomics in a report on Tuesday. They issued a “buy” rating and a $7.00 target price for the company.

The stock has a market cap of $1.08 billion and a price-to-earnings ratio of -2.19. The stock’s 50 day moving average is $2.93 and its two-hundred day moving average is $2.53.

Ideanomics (NASDAQ:IDEX) last announced its quarterly earnings results on Wednesday, March 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $11.07 million during the quarter. Ideanomics had a negative net margin of 998.07% and a negative return on equity of 212.69%.

A number of large investors have recently bought and sold shares of IDEX. JPMorgan Chase & Co. increased its holdings in Ideanomics by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,142 shares of the company’s stock valued at $26,000 after acquiring an additional 10,687 shares in the last quarter. MONECO Advisors LLC purchased a new position in Ideanomics during the 4th quarter valued at about $27,000. Boenning & Scattergood Inc. acquired a new stake in shares of Ideanomics during the 1st quarter worth about $35,000. LMR Partners LLP acquired a new stake in shares of Ideanomics during the 4th quarter worth about $48,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Ideanomics during the 4th quarter worth about $60,000. Hedge funds and other institutional investors own 4.74% of the company’s stock.

Ideanomics Company Profile (NASDAQ:IDEX)

Ideanomics, Inc focuses on monetizing the adoption of commercial electric vehicles, associated energy consumption, and developing financial services and Fintech products. Its Mobile Energy Global division provides financial services and incentives for commercial fleet operators, including group purchasing discounts and battery buy-back programs.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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