Ideanomics (NASDAQ:IDEX) Trading Down 6.7%

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Ideanomics (NASDAQ:IDEX)’s stock price traded down 6.7% during trading on Wednesday . The company traded as low as $0.81 and last traded at $0.84, 570,400 shares were traded during mid-day trading. A decline of 4% from the average session volume of 591,284 shares. The stock had previously closed at $0.90.

Separately, ValuEngine raised shares of Ideanomics from a “hold” rating to a “buy” rating in a research report on Monday, November 25th.

The company’s 50 day moving average price is $1.06 and its two-hundred day moving average price is $1.57. The firm has a market cap of $121.09 million, a PE ratio of 18.21 and a beta of 2.44. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.21.

Several institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in shares of Ideanomics by 69.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 19,500 shares of the company’s stock worth $29,000 after acquiring an additional 8,000 shares during the last quarter. Stanley Laman Group Ltd. purchased a new position in shares of Ideanomics during the 2nd quarter worth $25,000. JPMorgan Chase & Co. boosted its stake in shares of Ideanomics by 520.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,050 shares of the company’s stock worth $30,000 after acquiring an additional 11,787 shares during the last quarter. Strs Ohio purchased a new position in shares of Ideanomics during the 2nd quarter worth $33,000. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Ideanomics during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 4.87% of the company’s stock.

About Ideanomics (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.

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