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Newsmax (NYSE:NMAX) Now Covered by Analysts at Maxim Group

Newsmax logo with Consumer Discretionary background

Research analysts at Maxim Group began coverage on shares of Newsmax (NYSE:NMAX - Get Free Report) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. Maxim Group's target price would suggest a potential upside of 43.27% from the company's current price.

Newsmax Stock Performance

NYSE:NMAX traded up $0.04 during trading hours on Thursday, hitting $13.96. 475,739 shares of the stock were exchanged, compared to its average volume of 2,015,517. The company's 50 day moving average is $16.05. Newsmax has a twelve month low of $11.82 and a twelve month high of $265.00.

Newsmax (NYSE:NMAX - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.53) earnings per share (EPS) for the quarter. The business had revenue of $45.30 million during the quarter.

Institutional Trading of Newsmax

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in Newsmax during the 2nd quarter worth $491,000. Heck Capital Advisors LLC acquired a new stake in Newsmax during the 2nd quarter worth $419,000. Arkansas Financial Group Inc. acquired a new stake in Newsmax during the 2nd quarter worth $327,000. Axxcess Wealth Management LLC acquired a new stake in Newsmax during the 2nd quarter worth $282,000. Finally, Krilogy Financial LLC acquired a new stake in Newsmax during the 2nd quarter worth $240,000.

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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