Newsmax Inc.'s (NYSE:NMAX) Lock-Up Period Will End on September 29th

Key Points

• Newsmax Inc.'s lock-up period, during which insiders were restricted from selling shares, will end on September 29th, allowing them to sell the 7,500,000 shares issued in its public offering.
• Analysts have expressed optimism about Newsmax's stock, with several firms providing ratings that include a "buy" and a target price of $20.00 to $23.00, resulting in a consensus rating of "Moderate Buy" and an average target of $21.50.
• Despite these positive ratings, Newsmax's stock recently opened at $12.89, reflecting a significant distance from its 12-month high of $265.00 and indicating potential volatility in the market.

Newsmax's (NYSE:NMAX - Get Free Report) lock-up period will end on Monday, September 29th. Newsmax had issued 7,500,000 shares in its public offering on March 31st. The total size of the offering was $75,000,000 based on an initial share price of $10.00. After the end of the company's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Maxim Group assumed coverage on shares of Newsmax in a research report on Thursday, July 24th. They set a "buy" rating and a $20.00 target price on the stock. Wall Street Zen raised shares of Newsmax from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Noble Financial assumed coverage on shares of Newsmax in a research report on Thursday, August 21st. They set an "outperform" rating and a $23.00 target price on the stock. Finally, Zacks Research raised shares of Newsmax to a "hold" rating in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.50.

Newsmax Stock Down 0.1%

Shares of NYSE NMAX opened at $12.89 on Monday. The company's 50 day simple moving average is $13.42. Newsmax has a 12 month low of $11.40 and a 12 month high of $265.00.

Newsmax (NYSE:NMAX - Get Free Report) last posted its earnings results on Tuesday, August 19th. The company reported ($0.59) earnings per share (EPS) for the quarter. The company had revenue of $46.44 million for the quarter. Newsmax has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Newsmax

Several large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Newsmax in the 1st quarter valued at $39,000. CWM LLC acquired a new position in shares of Newsmax in the 1st quarter valued at $47,000. Allworth Financial LP acquired a new position in shares of Newsmax in the 1st quarter valued at $89,000. Hollencrest Capital Management acquired a new position in shares of Newsmax in the 2nd quarter valued at $25,000. Finally, West Oak Capital LLC acquired a new position in shares of Newsmax in the 2nd quarter valued at $30,000.

Newsmax Company Profile

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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