Newsmax Inc. (NYSE:NMAX) Short Interest Up 41.2% in December

Newsmax Inc. (NYSE:NMAX) saw a large increase in short interest in 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. Based on an average daily trading volume, of 1,269,357 shares, the short-interest ratio is currently 2.7 days. Currently, 2.7% of the shares of the stock are sold short. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,269,357 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NMAX. Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.50.

Institutional Investors Weigh In On Newsmax

Several hedge funds and other institutional investors have recently bought and sold shares of NMAX. Hollencrest Capital Management purchased a new position in Newsmax during the second quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Newsmax during the 3rd quarter worth approximately $26,000. West Oak Capital LLC purchased a new stake in shares of Newsmax during the 2nd quarter valued at approximately $30,000. Harbor Investment Advisory LLC lifted its holdings in Newsmax by 139.8% in the third quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock valued at $30,000 after acquiring an additional 1,398 shares during the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new position in Newsmax during the second quarter worth about $32,000.

Newsmax Stock Performance

Shares of NMAX stock traded up $0.18 during trading hours on Friday, reaching $7.96. The company had a trading volume of 953,356 shares, compared to its average volume of 1,003,162. Newsmax has a 12-month low of $7.31 and a 12-month high of $265.00. The company has a market capitalization of $1.03 billion and a price-to-earnings ratio of -6.86. The stock has a fifty day moving average of $8.35 and a 200-day moving average of $11.19.

Newsmax (NYSE:NMAX) last released its quarterly earnings data 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. The company had revenue of $45.27 million for the quarter. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.Newsmax’s quarterly revenue was up 4.0% compared to the same quarter last year.

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.