Newsmax (NYSE:NMAX) Reaches New 1-Year Low – Time to Sell?
by Tristan Rich · The Markets DailyNewsmax Inc. (NYSE:NMAX – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $5.17 and last traded at $5.3040, with a volume of 785044 shares trading hands. The stock had previously closed at $5.88.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a report on Friday. 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 data from MarketBeat.com, Newsmax presently has an average rating of “Hold” and a consensus price target of $21.50.
Read Our Latest Report on Newsmax
Newsmax Price Performance
The company has a market cap of $674.70 million and a PE ratio of -4.50. The business has a 50 day moving average of $6.59 and a 200 day moving average of $8.67.
Newsmax (NYSE:NMAX – Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.04 EPS for the quarter. Newsmax had a negative net margin of 52.57% and a negative return on equity of 82.25%. The business had revenue of $52.24 million during the quarter.
Institutional Trading of Newsmax
Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Newsmax in the 2nd quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in shares of Newsmax during the third quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in Newsmax by 139.8% in the third quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock worth $30,000 after purchasing an additional 1,398 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Newsmax in the second quarter worth $32,000. Finally, Osterweis Capital Management Inc. bought a new position in Newsmax in the second quarter worth $32,000.
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.