Newsmax (NYSE:NMAX) Trading Down 5.3% – What’s Next?

Newsmax Inc. (NYSE:NMAX)’s share price fell 5.3% on Friday . The stock traded as low as $8.23 and last traded at $8.2950. 346,155 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,421,257 shares. The stock had previously closed at $8.76.

Analyst Ratings Changes

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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.50.

Newsmax Price Performance

The firm has a market cap of $1.06 billion, a P/E ratio of -12.39 and a beta of 2.93. The stock has a 50 day moving average of $7.16 and a 200 day moving average of $7.27.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of Newsmax during the third quarter valued at about $26,000. Osterweis Capital Management Inc. bought a new position in shares of Newsmax during the second quarter valued at about $32,000. Smartleaf Asset Management LLC bought a new position in shares of Newsmax during the fourth quarter valued at about $32,000. Russell Investments Group Ltd. grew its stake in shares of Newsmax by 559.0% during the fourth quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $47,000 after buying an additional 5,171 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Newsmax during the second quarter valued at about $63,000.

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.