Short Interest in Ideanomics, Inc. (NASDAQ:IDEX) Rises By 33.9%

Ideanomics, Inc. (NASDAQ:IDEX) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,370,000 shares, a growth of 33.9% from the March 15th total of 1,770,000 shares. Approximately 24.5% of the shares of the company are sold short. Based on an average daily volume of 528,400 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Investors Weigh In On Ideanomics

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank lifted its stake in Ideanomics by 11.6% during the first quarter. Swiss National Bank now owns 1,059,100 shares of the company’s stock worth $1,186,000 after purchasing an additional 110,400 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ideanomics by 25.8% during the first quarter. JPMorgan Chase & Co. now owns 355,056 shares of the company’s stock worth $398,000 after buying an additional 72,916 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Ideanomics by 5.7% during the first quarter. Bank of New York Mellon Corp now owns 1,415,359 shares of the company’s stock worth $1,585,000 after buying an additional 76,204 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Ideanomics by 13.2% during the first quarter. MetLife Investment Management LLC now owns 173,192 shares of the company’s stock worth $194,000 after buying an additional 20,211 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Ideanomics by 4.1% in the first quarter. Rhumbline Advisers now owns 580,852 shares of the company’s stock valued at $651,000 after purchasing an additional 22,786 shares during the period. 4.41% of the stock is currently owned by institutional investors.

Ideanomics Price Performance

Ideanomics stock opened at $0.89 on Monday. Ideanomics has a 12 month low of $0.88 and a 12 month high of $16.13. The stock’s 50 day moving average is $1.02 and its 200-day moving average is $1.59. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $10.65 million, a price-to-earnings ratio of -0.01 and a beta of 0.53.

About Ideanomics

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