Newsmax (NYSE:NMAX) Hits New 52-Week Low – Should You Sell?

Newsmax Inc. (NYSE:NMAX) reached a new 52-week low during trading on Friday . The company traded as low as $11.26 and last traded at $11.40, with a volume of 619169 shares. The stock had previously closed at $11.98.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NMAX. Zacks Research upgraded Newsmax to a “hold” rating in a research note on Friday, August 22nd. Maxim Group began coverage on Newsmax in a research note on Thursday, July 24th. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday. Wall Street Zen lowered Newsmax from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, Noble Financial assumed coverage on Newsmax in a report on Thursday, August 21st. They issued an “outperform” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.50.

Newsmax Stock Down 6.8%

The firm has a fifty day moving average of $12.99 and a two-hundred day moving average of $19.94.

Newsmax (NYSE:NMAX) last announced its quarterly earnings data on Tuesday, August 19th. The company reported ($0.59) earnings per share for the quarter. The company had revenue of $46.44 million during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in Newsmax during the 1st quarter valued at about $39,000. CWM LLC purchased a new position in Newsmax during the 1st quarter valued at about $47,000. Allworth Financial LP purchased a new position in Newsmax during the 1st quarter valued at about $89,000. Hollencrest Capital Management purchased a new position in Newsmax during the 2nd quarter valued at about $25,000. Finally, West Oak Capital LLC purchased a new position in Newsmax during the 2nd quarter valued at about $30,000.

About Newsmax

Newsmax Inc is a holding company that owns 100% of the equity interests of its operating company Newsmax Media, Inc (“Newsmax Media”). Newsmax Media and its subsidiaries operate the businesses described in this Offering Circular. Newsmax Media has six wholly-owned subsidiaries: Newsmax Broadcasting, LLC, a Florida limited liability company (“Newsmax Broadcasting”), Crown Atlantic Insurance, LLC, a Florida limited liability company (“Crown Atlantic”), Humanix Publishing, LLC, a Florida limited liability company (“Humanix Publishing”), Medix Health LLC, a Florida limited liability company (“Medix Health”), ROI Media Strategies, LLC, a Florida limited liability company (“ROI Media Strategies”), and Newsmax Radio LLC, a Florida limited liability company (“Newsmax Radio,” and together with Newsmax Media, Newsmax Broadcasting, Crown Atlantic Insurance, Humanix Publishing, Medix Health, and ROI Media Strategies, the “Subsidiaries”).