Newsmax (NYSE:NMAX) Stock Price Up 11.7% – Should You Buy?

Shares of Newsmax Inc. (NYSE:NMAX) rose 11.7% on Thursday . The stock traded as high as $8.57 and last traded at $8.7040. Approximately 1,514,063 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 1,405,231 shares. The stock had previously closed at $7.79.

Wall Street Analyst Weigh In

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

Newsmax Trading Up 12.1%

The company’s 50-day simple moving average is $6.53 and its 200 day simple moving average is $7.21. The stock has a market cap of $1.13 billion, a P/E ratio of -13.23 and a beta of 2.25.

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

Institutional Investors Weigh In On Newsmax

Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenwich Wealth Management LLC purchased a new position in shares of Newsmax during the 4th quarter valued at $176,208,000. State Street Corp grew its position in shares of Newsmax by 520.9% during the 4th quarter. State Street Corp now owns 628,315 shares of the company’s stock valued at $4,857,000 after purchasing an additional 527,126 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Newsmax by 329.1% during the 4th quarter. Geode Capital Management LLC now owns 574,465 shares of the company’s stock valued at $4,441,000 after purchasing an additional 440,577 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Newsmax by 1,033.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company’s stock valued at $3,546,000 after purchasing an additional 418,199 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Newsmax by 4,495.3% during the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after purchasing an additional 412,173 shares in the last quarter.

About Newsmax

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.