Ideanomics (NASDAQ:IDEX) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 2,639,600 shares, a decrease of 5.9% from the June 30th total of 2,805,200 shares. Based on an average daily trading volume, of 678,700 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.3% of the company’s stock are short sold.
Separately, ValuEngine upgraded shares of Ideanomics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Stanley Laman Group Ltd. acquired a new position in Ideanomics during the second quarter worth $25,000. JPMorgan Chase & Co. boosted its holdings in Ideanomics by 520.9% during the second quarter. JPMorgan Chase & Co. now owns 14,050 shares of the company’s stock worth $30,000 after purchasing an additional 11,787 shares during the last quarter. Strs Ohio acquired a new position in Ideanomics during the second quarter worth $33,000. Parametric Portfolio Associates LLC acquired a new position in Ideanomics during the second quarter worth $37,000. Finally, National Asset Management Inc. acquired a new position in Ideanomics during the first quarter worth $60,000. Institutional investors and hedge funds own 1.46% of the company’s stock.
Ideanomics (NASDAQ:IDEX) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.05 earnings per share for the quarter. Ideanomics had a negative net margin of 1.73% and a negative return on equity of 7.79%. The company had revenue of $14.45 million during the quarter.
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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