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

Ideanomics (NASDAQ:IDEX) announced its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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%.

Ideanomics stock opened at $1.46 on Wednesday. Ideanomics has a 52 week low of $1.44 and a 52 week high of $5.53. The business has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $2.39. The stock has a market cap of $699.38 million, a price-to-earnings ratio of -5.62 and a beta of -0.42.

In other 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 value of $1,030,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IDEX. UBS Group AG grew its stake in shares of Ideanomics by 307.4% in the 3rd quarter. UBS Group AG now owns 18,070 shares of the company’s stock worth $36,000 after buying an additional 13,635 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Ideanomics in the 3rd quarter worth approximately $75,000. Royal Bank of Canada grew its stake in shares of Ideanomics by 177.8% in the 2nd quarter. Royal Bank of Canada now owns 44,385 shares of the company’s stock worth $125,000 after buying an additional 28,409 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ideanomics by 41.2% in the 2nd quarter. Bank of America Corp DE now owns 52,790 shares of the company’s stock worth $150,000 after buying an additional 15,411 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Ideanomics by 92.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 118,000 shares of the company’s stock worth $232,000 after buying an additional 56,715 shares during the last quarter. 15.29% of the stock is owned by institutional investors.

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

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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Earnings History for Ideanomics (NASDAQ:IDEX)

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