Ideanomics (NASDAQ:IDEX) Releases Quarterly Earnings Results

Ideanomics (NASDAQ:IDEX) announced its earnings results on Monday. 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 net margin of 79.71% and a negative return on equity of 19.57%. During the same period in the previous year, the company earned ($0.03) earnings per share.

IDEX stock opened at $1.46 on Wednesday. The stock has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.39. Ideanomics has a 12-month low of $1.44 and a 12-month high of $5.53. The company has a market cap of $699.38 million, a PE ratio of -5.62 and a beta of -0.42.

In other Ideanomics news, Chairman Shane Mcmahon sold 500,000 shares of the business’s stock in a transaction dated Friday, September 24th. The stock was sold at an average price of $2.06, for a total transaction of $1,030,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of IDEX. Millennium Management LLC boosted its position in shares of Ideanomics by 236.5% in the third quarter. Millennium Management LLC now owns 736,112 shares of the company’s stock worth $1,450,000 after buying an additional 517,340 shares during the period. Morgan Stanley lifted its stake in shares of Ideanomics by 44.7% in the second quarter. Morgan Stanley now owns 613,698 shares of the company’s stock worth $1,743,000 after acquiring an additional 189,590 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ideanomics by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 1,298,405 shares of the company’s stock worth $2,557,000 after acquiring an additional 157,166 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Ideanomics in the second quarter worth about $401,000. Finally, BNP Paribas Arbitrage SA lifted its stake 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 acquiring an additional 56,715 shares in the last quarter. 15.29% of the stock is owned by institutional investors.

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

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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