Newsmax (NYSE:NMAX) Reaches New 52-Week Low – Should You Sell?
by Tristan Rich · The Markets DailyNewsmax Inc. (NYSE:NMAX – Get Free Report)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $6.83 and last traded at $6.9050, with a volume of 1002867 shares. The stock had previously closed at $7.06.
Analyst Ratings Changes
Several equities analysts have recently issued reports on NMAX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Newsmax in a report on Monday, December 29th. Wall Street Zen upgraded 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 given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Newsmax currently has an average rating of “Hold” and a consensus price target of $21.50.
Get Our Latest Research Report on NMAX
Newsmax Price Performance
The stock has a market cap of $856.13 million and a P/E ratio of -5.71. The firm’s 50 day moving average price is $8.21 and its 200-day moving average price is $10.67.
Newsmax (NYSE:NMAX – Get Free Report) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. The business 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%.The firm’s revenue was up 4.0% on a year-over-year basis.
Hedge Funds Weigh In On Newsmax
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its stake in Newsmax by 4,495.3% during the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after buying an additional 412,173 shares during the last quarter. Soviero Asset Management LP purchased a new stake in Newsmax during the third quarter valued at $2,914,000. Bank of America Corp DE lifted its holdings in Newsmax by 910,880.0% in the second quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock valued at $2,067,000 after acquiring an additional 136,632 shares during the period. Denver PWM LLC purchased a new position in Newsmax in the second quarter worth about $1,630,000. Finally, HRT Financial LP grew its stake in shares of Newsmax by 4,150.9% during the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company’s stock valued at $1,572,000 after purchasing an additional 101,489 shares during the period.
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.