Short Interest in Newsmax Inc. (NYSE:NMAX) Grows By 41.2%

Newsmax Inc. (NYSE:NMAX) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 3,458,537 shares, an increase of 41.2% from the December 15th total of 2,449,745 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,269,357 shares, the short-interest ratio is presently 2.7 days. Based on an average daily trading volume, of 1,269,357 shares, the short-interest ratio is presently 2.7 days. Currently, 2.7% of the company’s shares are sold short.

Hedge Funds Weigh In On Newsmax

A number of large investors have recently added to or reduced their stakes in NMAX. Hollencrest Capital Management bought a new stake in shares of Newsmax in the second quarter valued at about $25,000. West Oak Capital LLC acquired a new stake in Newsmax in the 2nd quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in Newsmax in the 3rd quarter valued at approximately $26,000. SOA Wealth Advisors LLC. acquired a new position in Newsmax during the 2nd quarter worth approximately $32,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Newsmax during the 2nd quarter worth approximately $32,000.

Wall Street Analyst Weigh In

NMAX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Newsmax has an average rating of “Hold” and a consensus price target of $21.50.

Newsmax Trading Up 2.3%

Shares of NYSE NMAX traded up $0.18 during mid-day trading on Friday, reaching $7.96. 953,356 shares of the company’s stock were exchanged, compared to its average volume of 1,003,162. Newsmax has a twelve month low of $7.31 and a twelve month high of $265.00. The firm has a market capitalization of $1.03 billion and a price-to-earnings ratio of -6.86. The business has a fifty day simple moving average of $8.35 and a 200 day simple moving average of $11.23.

Newsmax (NYSE:NMAX) last posted its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The business had revenue of $45.27 million during the quarter. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.Newsmax’s revenue for the quarter was up 4.0% on a year-over-year basis.

Newsmax Company Profile

Newsmax (NYSE:NMAX) is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.

Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.