Stock traders are buying a high volume of call options on Ideanomics (NASDAQ:IDEX)

Ideanomics, Inc. (NASDAQ:IDEX – Get Rating) saw unusually heavy options trading activity on Tuesday. Stock traders bought 3,475 call options on the company. This is a 57% increase from the average daily volume of 2,219 call options.

A Wall Street analyst gives his opinion

Separately, Cantor Fitzgerald downgraded Ideanomics shares from an “overweight” rating to a “neutral” rating in a Monday, Aug. 8 report.

Institutional investors weigh in on Ideanomics

Several institutional investors have recently changed their stake in the company. BNP Paribas Arbitrage SA increased its position in Ideanomics shares by 19.6% during the second quarter. BNP Paribas Arbitrage SA now owns 112,796 shares in the company worth $75,000 after purchasing an additional 18,496 shares during the period. MetLife Investment Management LLC increased its position in Ideanomics shares by 13.2% during the first quarter. MetLife Investment Management LLC now owns 173,192 shares of the company worth $194,000 after purchasing an additional 20,211 shares during the period. Rhumbline Advisers increased its position in Ideanomics shares by 4.1% during the first quarter. Rhumbline Advisers now owns 580,852 shares of the company worth $651,000 after purchasing an additional 22,786 shares during the period. Allworth Financial LP bought a new position in Ideanomics during Q1 worth approximately $34,000. Finally, the Swiss National Bank increased its stake in Ideanomics by 5.2% during the second quarter. The Swiss National Bank now owns 1,113,700 shares in the company worth $738,000 after acquiring 54,600 more shares in the last quarter. Institutional investors and hedge funds own 7.67% of the company’s shares.

Ideonomics Price Performance

IDEX rose $0.09 during midday trading on Tuesday, hitting $0.37. The company had a trading volume of 284,593 shares, compared to an average volume of 9,565,734. The company has a leverage ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.59. The company has a market capitalization of $183.27 million, a PE ratio of -0.41 and a beta of 0.48. Ideanomics has a 12-month low of $0.20 and a 12-month high of $2.14. The company’s 50-day simple moving average is $0.43 and its 200-day simple moving average is $0.60.

Ideanomics Company Profile

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Ideanomics, Inc, through its subsidiaries, develops zero-emission mobility solutions for the off-road and on-road commercial vehicle markets in Asia and the United States. The Company’s Ideanomics Mobility business unit focuses on the commercial adoption of electric vehicles (EVs) by commercial fleet operators.

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