SG Americas Securities LLC Raises Stock Holdings in Ideanomics, Inc. (NASDAQ:IDEX)

SG Americas Securities LLC boosted its holdings in Ideanomics, Inc. (NASDAQ:IDEX) by 1,468.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 287,981 shares of the company’s stock after buying an additional 269,618 shares during the quarter. SG Americas Securities LLC owned 0.06% of Ideanomics worth $567,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Ideanomics during the 2nd quarter valued at about $64,859,000. State Street Corp grew its stake in shares of Ideanomics by 2,055.7% during the 2nd quarter. State Street Corp now owns 7,876,855 shares of the company’s stock valued at $22,370,000 after purchasing an additional 7,511,464 shares during the period. Vanguard Group Inc. bought a new stake in shares of Ideanomics during the 2nd quarter valued at about $9,604,000. Geode Capital Management LLC grew its stake in shares of Ideanomics by 1,197.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,660,537 shares of the company’s stock valued at $10,395,000 after purchasing an additional 3,378,511 shares during the period. Finally, Northern Trust Corp bought a new stake in shares of Ideanomics during the 2nd quarter valued at about $9,211,000. 20.43% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:IDEX opened at $1.17 on Friday. The stock has a 50 day moving average of $1.48 and a 200 day moving average of $1.98. The company has a market cap of $582.29 million, a PE ratio of -3.44 and a beta of -0.39. Ideanomics, Inc. has a 12-month low of $1.10 and a 12-month high of $5.53.

Ideanomics (NASDAQ:IDEX) last announced its quarterly earnings data on Tuesday, November 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.10). Ideanomics had a negative net margin of 108.04% and a negative return on equity of 19.80%. On average, research analysts predict that Ideanomics, Inc. will post -0.16 EPS for the current year.

Separately, Zacks Investment Research downgraded Ideanomics from a “hold” rating to a “sell” rating in a research note on Monday, November 29th.

In related news, CEO Alfred Poor acquired 62,975 shares of the business’s stock in a transaction on Wednesday, January 12th. The stock was acquired at an average cost of $1.19 per share, with a total value of $74,940.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.30% of the company’s stock.

Ideanomics Company Profile

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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Institutional Ownership by Quarter for Ideanomics (NASDAQ:IDEX)

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