Newsmax (NYSE:NMAX) Trading 8.3% Higher – What’s Next?

Newsmax Inc. (NYSE:NMAX) was up 8.3% during mid-day trading on Friday . The company traded as high as $7.18 and last traded at $7.2210. Approximately 597,540 shares traded hands during trading, a decline of 58% from the average session volume of 1,419,653 shares. The stock had previously closed at $6.67.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.50.

Newsmax Trading Up 8.4%

The company’s 50-day moving average price is $7.44 and its two-hundred day moving average price is $7.21. The company has a market cap of $933.83 million, a P/E ratio of -10.92 and a beta of 2.93.

Newsmax (NYSE:NMAX) last released its earnings results on Thursday, March 26th. The company reported $0.04 EPS for the quarter. Newsmax had a negative net margin of 43.17% and a negative return on equity of 81.14%. The business had revenue of $52.24 million during the quarter. Equities analysts forecast that Newsmax Inc. will post -0.16 earnings per share for the current year.

Institutional Trading of Newsmax

A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC acquired a new stake in shares of Newsmax during the 3rd quarter valued at $26,000. Osterweis Capital Management Inc. bought a new position in shares of Newsmax in the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC acquired a new position in Newsmax during the 4th quarter worth $32,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Newsmax in the second quarter valued at about $63,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Newsmax in the second quarter worth about $76,000.

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.