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Ideanomics Inc (IDEX) Price Target Set: Are Analysts Too Bullish On This Electric Vehicle Stock?

Friday, March 17, 2023 02:33 PM | InvestorsObserver Analysts

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Ideanomics Inc (IDEX) Price Target Set: Are Analysts Too Bullish On This Electric Vehicle Stock?

Ideanomics Inc is losing momentum Friday, decreasing 7.79%. Wall Street is positive on Ideanomics Inc (IDEX). On average, analysts give the stock a Hold rating. The average price target is $1, which means analysts expect the stock to increase by 809.09% over the next twelve months. That average ranking earns the stock an Analyst Rating of 6, which is better than 6% of stocks based on data compiled by InvestorsObserver.

Overall Score - 3
Wall Street analysts are rating IDEX a Hold today. Find out what this means to you and get the rest of the rankings on IDEX!

Why are Analyst Ratings Important?

Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers. InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.

What's Happening With Ideanomics Inc Stock Today?

Ideanomics Inc (IDEX) stock is trading at $0.11 as of 2:33 PM on Friday, Mar 17, a decline of -$0.01, or -7.79% from the previous closing price of $0.12. The stock has traded between $0.11 and $0.12 so far today. Volume today is less active than usual. So far 9,384,892 shares have traded compared to average volume of 18,770,659 shares. Click Here to get the full Stock Report for Ideanomics Inc stock.

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