Newsmax (NYSE:NMAX) Sets New 52-Week Low – What’s Next?

Newsmax Inc. (NYSE:NMAX)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $7.35 and last traded at $7.4850, with a volume of 53792 shares trading hands. The stock had previously closed at $7.47.

Analysts Set New Price Targets

Several research analysts recently issued reports on NMAX shares. Zacks Research raised shares of Newsmax to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, October 8th. Noble Financial initiated coverage on Newsmax in a research note on Thursday, August 21st. They issued an “outperform” rating and a $23.00 target price for the company. Maxim Group started coverage on Newsmax in a research report on Thursday, July 24th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.50.

Newsmax Price Performance

The stock has a market capitalization of $958.45 million and a price-to-earnings ratio of -6.43. The business’s fifty day moving average price is $10.92 and its 200-day moving average price is $14.16.

Newsmax (NYSE:NMAX) last posted its earnings results 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 net margin of 55.99% and a negative return on equity of 255.61%. The business’s revenue was up 4.0% on a year-over-year basis. Newsmax has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Soviero Asset Management LP bought a new stake in Newsmax during the third quarter worth $2,914,000. Bank of America Corp DE boosted its holdings in Newsmax by 910,880.0% during the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock worth $2,067,000 after acquiring an additional 136,632 shares during the last quarter. Denver PWM LLC bought a new stake in shares of Newsmax in the 2nd quarter worth $1,630,000. HRT Financial LP grew its stake in shares of Newsmax by 4,150.9% in the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company’s stock worth $1,572,000 after acquiring an additional 101,489 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of Newsmax in the second quarter valued at about $1,425,000.

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”).