Ideanomics (NASDAQ:IDEX) released its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10), MarketWatch Earnings reports. Ideanomics had a negative net margin of 79.71% and a negative return on equity of 19.57%.
Shares of IDEX stock opened at $1.46 on Wednesday. The firm has a market cap of $699.38 million, a price-to-earnings ratio of -5.62 and a beta of -0.42. Ideanomics has a 52 week low of $1.44 and a 52 week high of $5.53. The firm’s 50-day simple moving average is $1.96 and its two-hundred day simple moving average is $2.39.
Separately, Zacks Investment Research raised shares of Ideanomics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 19th.
A number of large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Ideanomics by 13.8% during the third quarter. Bank of New York Mellon Corp now owns 1,298,405 shares of the company’s stock valued at $2,557,000 after acquiring an additional 157,166 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Ideanomics by 92.5% during the third quarter. BNP Paribas Arbitrage SA now owns 118,000 shares of the company’s stock valued at $232,000 after acquiring an additional 56,715 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Ideanomics during the third quarter valued at approximately $75,000. UBS Group AG grew its stake in Ideanomics by 307.4% during the third quarter. UBS Group AG now owns 18,070 shares of the company’s stock valued at $36,000 after acquiring an additional 13,635 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Ideanomics by 236.5% during the third quarter. Millennium Management LLC now owns 736,112 shares of the company’s stock valued at $1,450,000 after acquiring an additional 517,340 shares in the last quarter. 15.29% of the stock is owned by institutional investors.
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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