CEO of Ideanomics, Inc. (NASDAQ:IDEX) Acquires $100,000.00 in Stock


Ideanomics, Inc. (NASDAQ:IDEX – Get Rating) CEO Alfred Poor acquired 400,000 shares of the company in a transaction on Friday, October 21. The stock was purchased at an average cost of $0.25 per share, with a total value of $100,000.00. Following the completion of the acquisition, the CEO now directly owns 1,889,125 shares of the company, valued at $472,281.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.

Ideanomics Trading up 0.0%

Shares of IDEX opened at $0.29 on Thursday. Ideanomics, Inc. has a 52-week low of $0.20 and a 52-week high of $2.14. The company’s fifty-day moving average is $0.42 and its 200-day moving average is $0.60. The company has a debt ratio of 0.01, a quick ratio of 2.32 and a current ratio of 2.59. The company has a market capitalization of $157.04 million, a price-earnings ratio of -0.43 and a beta of 0.47.

Analysts set new price targets

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

Hedge funds weigh on Ideanomics

Several hedge funds and other institutional investors have recently changed their holdings in the company. Goldman Sachs Group Inc. increased its stake in Ideanomics shares by 53.3% in Q2. Goldman Sachs Group Inc. now owns 806,161 shares of the company valued at $534,000 after buying an additional 280,412 shares in the last quarter. Cubist Systematic Strategies LLC increased its equity stake in Ideanomics to 8,889.4% in Q2. Cubist Systematic Strategies LLC now owns 1,027,128 shares of the company valued at $681,000 after purchasing an additional 1,015,702 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of Ideanomics in Q2 worth $116,000. Millennium Management LLC purchased a new stake in Ideanomics during Q2 for a value of $5,482,000. Finally, UBS Asset Management Americas Inc. increased its position in Ideanomics by 27.4% during the second quarter. UBS Asset Management Americas Inc. now owns 503,113 shares of the company worth $333,000 after acquiring 108,343 additional shares in the last quarter. Institutional investors hold 7.67% of the company’s shares.

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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