Ideanomics (NASDAQ:IDEX)’s share price traded up 5.9% during trading on Wednesday . The company traded as high as $1.65 and last traded at $1.61, 564,532 shares traded hands during mid-day trading. A decline of 7% from the average session volume of 608,231 shares. The stock had previously closed at $1.52.
Separately, ValuEngine upgraded Ideanomics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
The stock has a market cap of $208.04 million, a price-to-earnings ratio of 40.00 and a beta of 2.62. The firm has a 50-day moving average of $1.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.80 and a quick ratio of 0.80.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Ideanomics during the second quarter valued at about $5,949,000. Charles Schwab Investment Management Inc. bought a new stake in Ideanomics during the 2nd quarter valued at approximately $262,000. Bank of New York Mellon Corp purchased a new position in Ideanomics in the 2nd quarter worth approximately $207,000. Stelac Advisory Services LLC purchased a new position in Ideanomics in the 2nd quarter worth approximately $123,000. Finally, Northern Trust Corp bought a new position in Ideanomics in the 2nd quarter worth approximately $106,000. Institutional investors and hedge funds own 4.31% of the company’s stock.
Ideanomics Company Profile (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.
Read More: What is the Producer Price Index (PPI)?
Receive News & Ratings for Ideanomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ideanomics and related companies with MarketBeat.com's FREE daily email newsletter.