Ideanomics Inc. (NASDAQ:IDEX) shares traded lower over the last trading session, losing -20.58% on 12/01/20. The shares fell to a low of $2.08 before closing at $2.20. Intraday shares traded counted 62.17 million, which was -189.85% lower than its 30-day average trading volume of 21.45M. IDEX’s previous close was $2.77 while the outstanding shares total 237.54M. The firm has a beta of 0.13. The stock’s Relative Strength Index (RSI) is 61.72, with weekly volatility at 39.04% and ATR at 0.43. The IDEX stock’s 52-week price range has touched low of $0.28 and a $4.75 high.
Investors have identified the Software – Application company Ideanomics Inc. as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $514.34 million, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Ideanomics Inc. (IDEX) Fundamentals that are to be considered.
When analyzing a stock, the first fundamental thing to take into account is the balance sheet. How healthy the balance sheet of a company is will determine if the company will be able to carry out all its financial and non-financial obligations and also keep the faith of its investors. For IDEX, the company has in raw cash 27.61 million on their books with 12.78 million currently as liabilities. How the trend is over time is what investors should be concerned about. The company has a healthy balance sheet as their debt profile has been on an incline. In terms of their assets, the company currently has 35565000 million total, with 29735000 million as their total liabilities.
IDEX were able to record -21.96 million as free cash flow during the third quarter of the year, this saw their quarterly net cash flow reduce by 24.97 million. In cash movements, the company had a total of -21.92 million as operating cash flow.
Potential earnings growth for Ideanomics Inc. (IDEX)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the third quarter of the year, Ideanomics Inc. recorded a total of 10.62 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 70.77% coming in sequential stages and their sales for the third quarter increasing by 55.82%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent 9.91 million trying to sell their products during the last quarter, with the result yielding a gross income of 0.71 million. This allows shareholders to hold on to 237.54M with the revenue now reading -0.04 cents per share. This is a figure that is close to analyst’s prediction for their fourth quarter.
Is the stock of IDEX attractive?
In the last 6 months, insiders have changed their ownership in shares of company stock by 0.40%.