Ideanomics (NASDAQ:IDEX) Announces Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Ideanomics (NASDAQ:IDEX) released its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.10), Fidelity Earnings reports. Ideanomics had a negative return on equity of 19.57% and a negative net margin of 79.71%. During the same quarter in the prior year, the business posted ($0.03) EPS.

Ideanomics stock opened at $1.59 on Thursday. Ideanomics has a fifty-two week low of $1.39 and a fifty-two week high of $5.53. The company’s 50 day simple moving average is $1.95 and its 200 day simple moving average is $2.38. The firm has a market capitalization of $759.26 million, a price-to-earnings ratio of -6.10 and a beta of -0.42.

Separately, Zacks Investment Research raised shares of Ideanomics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 19th.

In other Ideanomics news, Chairman Shane Mcmahon sold 500,000 shares of Ideanomics stock in a transaction that occurred on Friday, September 24th. The shares were sold at an average price of $2.06, for a total value of $1,030,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG lifted its position in shares of Ideanomics by 307.4% in the third quarter. UBS Group AG now owns 18,070 shares of the company’s stock worth $36,000 after purchasing an additional 13,635 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Ideanomics in the third quarter worth $75,000. Royal Bank of Canada lifted its position in shares of Ideanomics by 177.8% in the second quarter. Royal Bank of Canada now owns 44,385 shares of the company’s stock worth $125,000 after purchasing an additional 28,409 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Ideanomics by 41.2% in the second quarter. Bank of America Corp DE now owns 52,790 shares of the company’s stock worth $150,000 after purchasing an additional 15,411 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Ideanomics by 92.5% in the third quarter. BNP Paribas Arbitrage SA now owns 118,000 shares of the company’s stock worth $232,000 after purchasing an additional 56,715 shares in the last quarter. 15.29% of the stock is currently owned by hedge funds and other institutional investors.

About Ideanomics

Ideanomics, Inc is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech product. The firm operates through the Mobile Energy Global (MEG) and Ideanomics Capital business units. Its electric vehicle division, MEG, provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity, as well as financing and charging solutions.

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Earnings History for Ideanomics (NASDAQ:IDEX)

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