Ideanomics (NASDAQ:IDEX) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Ideanomics (NASDAQ:IDEX) from a hold rating to a buy rating in a report published on Thursday, ValuEngine reports.

IDEX stock traded down $0.04 during midday trading on Thursday, hitting $1.79. The company’s stock had a trading volume of 13,884 shares, compared to its average volume of 783,846. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Ideanomics has a 52-week low of $1.12 and a 52-week high of $5.75. The firm has a 50-day moving average of $2.02.

Institutional investors have recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. purchased a new position in shares of Ideanomics in the second quarter valued at $25,000. Stelac Advisory Services LLC purchased a new position in shares of Ideanomics in the second quarter valued at $123,000. Lake Street Financial LLC purchased a new position in shares of Ideanomics in the second quarter valued at $66,000. Strs Ohio purchased a new position in shares of Ideanomics in the second quarter valued at $33,000. Finally, National Asset Management Inc. purchased a new position in shares of Ideanomics in the first quarter valued at $60,000. 1.76% of the stock is owned by institutional investors and hedge funds.

Ideanomics Company Profile

Ideanomics, Inc operates as a financial technology and asset digitization services company. The company operates in two segments, Legacy YOD and Wecast Service. It engages in the provision of business consulting services related to traditional financings, as well as in developing digital asset securitization services through artificial intelligence and blockchain enabled financial services platforms.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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