ValuEngine Downgrades Ideanomics (NASDAQ:IDEX) to Hold

Ideanomics (NASDAQ:IDEX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday, ValuEngine reports.

Shares of Ideanomics stock opened at $1.84 on Monday. The stock has a 50-day moving average price of $1.98. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. Ideanomics has a 12-month low of $1.12 and a 12-month high of $5.75.

Ideanomics (NASDAQ:IDEX) last announced its earnings results on Tuesday, April 30th. The company reported $0.17 earnings per share for the quarter. The business had revenue of $26.95 million for the quarter. Ideanomics had a negative net margin of 1.73% and a negative return on equity of 7.79%.

A hedge fund recently bought a new stake in Ideanomics stock. National Asset Management Inc. acquired a new stake in Ideanomics (NASDAQ:IDEX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,884 shares of the company’s stock, valued at approximately $60,000. 1.68% of the stock is owned by hedge funds and other institutional investors.

About Ideanomics

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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