Ideanomics (NASDAQ:IDEX) Posts Earnings Results, Misses Expectations By $0.10 EPS

Ideanomics (NASDAQ:IDEX) posted its earnings results on Monday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned ($0.03) earnings per share.

NASDAQ:IDEX opened at $1.46 on Wednesday. The company has a market capitalization of $699.38 million, a P/E ratio of -5.62 and a beta of -0.42. Ideanomics has a 12 month low of $1.44 and a 12 month high of $5.53. The business’s 50-day moving average is $1.96 and its 200 day moving average is $2.39.

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

In other Ideanomics news, Chairman Shane Mcmahon sold 500,000 shares of the business’s stock in a transaction that occurred on Friday, September 24th. The stock was sold at an average price of $2.06, for a total transaction of $1,030,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased 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 worth $2,557,000 after acquiring an additional 157,166 shares during the last quarter. Millennium Management LLC grew its stake in shares of 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 buying an additional 517,340 shares during the last quarter. Morgan Stanley grew its stake in shares of Ideanomics by 44.7% during the second quarter. Morgan Stanley now owns 613,698 shares of the company’s stock valued at $1,743,000 after buying an additional 189,590 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ideanomics by 19.8% during the third quarter. Invesco Ltd. now owns 169,045 shares of the company’s stock valued at $333,000 after buying an additional 27,901 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of 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 buying an additional 56,715 shares during the last quarter. 15.29% of the stock is currently 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.

Featured Article: What is the definition of a trade war?

Earnings History for Ideanomics (NASDAQ:IDEX)

Receive News & Ratings for Ideanomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ideanomics and related companies with MarketBeat.com's FREE daily email newsletter.