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
(Get an evaluation)
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.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Ideanomics, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Ideanomics wasn’t on the list.
While Ideanomics currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here