Wall Street Zen Upgrades Newsmax (NYSE:NMAX) to “Hold”

Newsmax (NYSE:NMAX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently weighed in on NMAX. Maxim Group started coverage on shares of Newsmax in a research note on Thursday, July 24th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Research raised shares of Newsmax to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, October 8th. Finally, Noble Financial began coverage on Newsmax in a research note on Thursday, August 21st. They issued an “outperform” rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Newsmax presently has an average rating of “Hold” and an average price target of $21.50.

Newsmax Stock Performance

Shares of NMAX stock opened at $7.92 on Friday. The business’s fifty day moving average is $11.32 and its 200-day moving average is $14.47. The stock has a market cap of $1.02 billion and a PE ratio of -7.07. Newsmax has a 1 year low of $7.90 and a 1 year high of $265.00.

Newsmax (NYSE:NMAX) last released its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.The business had revenue of $45.27 million for the quarter. Newsmax’s revenue was up 4.0% compared to the same quarter last year. Newsmax has set its FY 2025 guidance at EPS.

Institutional Trading of Newsmax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMAX. Soviero Asset Management LP bought a new stake in shares of Newsmax in the 3rd quarter valued at $2,914,000. Bank of America Corp DE raised its holdings in shares of Newsmax by 910,880.0% in the second quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock valued at $2,067,000 after purchasing an additional 136,632 shares during the last quarter. Denver PWM LLC bought a new position in shares of Newsmax during the 2nd quarter worth approximately $1,630,000. HRT Financial LP increased its position in shares of Newsmax by 4,150.9% during the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company’s stock valued at $1,572,000 after purchasing an additional 101,489 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new position in Newsmax in the second quarter valued at about $1,425,000.

Newsmax Company Profile

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).