Newsmax (NYSE:NMAX) Shares Up 5.5% – Should You Buy?

by · The Cerbat Gem

Newsmax Inc. (NYSE:NMAX – Get Free Report)’s share price shot up 5.5% on Tuesday . The company traded as high as $9.87 and last traded at $9.9080. 186,504 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,367,849 shares. The stock had previously closed at $9.39.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Noble Financial initiated coverage on Newsmax in a research report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price on the stock. Zacks Research upgraded shares of Newsmax to a “hold” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a research report on Monday, December 8th. Finally, Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Newsmax presently has a consensus rating of “Hold” and a consensus price target of $21.50.

View Our Latest Stock Report on NMAX

Newsmax Trading Up 3.6%

The stock has a 50-day moving average price of $9.53 and a 200 day moving average price of $12.26. The stock has a market capitalization of $1.26 billion and a price-to-earnings ratio of -8.38.

Newsmax (NYSE:NMAX – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NMAX. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Newsmax in the second quarter valued at approximately $491,000. Rovin Capital UT ADV acquired a new stake in shares of Newsmax in the 2nd quarter worth $605,000. Stephens Inc. AR acquired a new stake in Newsmax during the second quarter worth about $749,000. Arkansas Financial Group Inc. purchased a new position in Newsmax in the second quarter worth approximately $327,000. Finally, Heck Capital Advisors LLC purchased a new stake in Newsmax in the second quarter valued at $419,000.

About Newsmax

(Get Free Report)

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”).

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