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IDEX Corp. stock rises Monday, outshines market

Shares of IDEX Corp. IEX, +0.66% inched 0.66% higher to $220.60 Monday, on what proved to be a well-rounded positive trading session for the securities market, with the S&P 500 Index SPX, +0.28% rising 0.28% to 4,410.13 and also the Dow Jones Industrial Standard DJIA, +0.29% rising 0.29% to 34,364.50. This was the stock’s second consecutive day of gains. IDEX Corp. closed $19.73 short of its 52-week high ($ 240.33), which the company got to on December 16th.

The stock outperformed some of its competitors Monday, as Roper Technologies Inc. ROP, -0.80% dropped 0.80% to $434.45, Parker Hannifin Corp. PH, +0.22% climbed 0.22% to $314.17, as well as Dover Corp. DOV, +0.09% climbed 0.09% to $173.69. Trading quantity (583,453) overshadowed its 50-day average quantity of 303,292.

Why Ideanomics Stock Popped Today

Shares of Ideanomics (NASDAQ: IDEX) skyrocketed today after the firm introduced that of its subsidiaries, WAVE, anticipates it’ll have a reduction in electrical automobile (EV) billing expenses, thanks to “current production and engineering financial investments.”

The technology stock was up by 15% for the day.

WAVE is developing cordless billing services for tool- and also heavy-duty lorries. Several of its innovation includes a hands-free charging system that is “embedded in roads and fees lorries throughout set up quits.”

The business said in the press launch that its concentrate on manufacturing as well as engineering enhancements had actually generated minimized expenses that it will be able to pass along to several of its customers.

” For many years, WAVE systems have actually enabled our customers to match diesel automobiles’ variety and also duty cycle. Handing down newly found price reductions to our clients with a class-leading guarantee right away provides fleet operators new electrification remedies,” WAVE’s primary modern technology police officer Michael Masquelier claimed in the release.

In addition to the price reductions, WAVE also announced a new charging-as-a-service (CaaS) offering that consists of charging hardware as well as infrastructure, upkeep, and a three-year warranty for the billing modern technology. Clients will certainly be able to sign up for the CaaS murder for a regular monthly charge.

Currently what
Some capitalists were plainly satisfied with Ideanomics’ announcement today, but some of that positive outlook should be solidified by the business’s uninspired share efficiency throughout the years.

Ideanomics’ stock has tumbled 30% over the past 12 months, and also today’s significant share cost spike from simply one press release reveals just how volatile this stock continues to be.

All of which suggests that long-lasting capitalists may want to beware prior to jumping all-in on Ideanomics’ shares.

Ideanomics Inc (IDEX) Stock Sheds -2.50% This Week; Should You Get?

Ideanomics Inc (IDEX) stock has dropped -60.74% over the last 12 months, and also the ordinary ranking from Wall Street analysts is a Strong Buy. InvestorsObserver’s exclusive ranking system, offers IDEX stock a rating of 33 out of a possible 100. That rank is largely influenced by a lasting technical score of 10. IDEX’s ranking likewise consists of a short-term technological rating of 15. The basic score for IDEX is 74. Along with the typical score from Wall Street analysts, IDEX stock has a mean target cost of $5.00. This implies analysts expect the stock to rise 327.35% over the next 12 months.

What’s Happening with IDEX Stock Today

Ideanomics Inc (IDEX) stock is down -5.65% while the S&P 500 has dropped -0.67% since 10:53 AM on Friday, Jan 7. IDEX has actually fallen -$0.07 from the previous closing cost of $1.24 on quantity of 1,856,238 shares. Over the past year the S&P 500 has actually gotten 22.64% while IDEX has actually fallen -60.74%. IDEX shed -$0.32 per share in the over the last twelve month.