Newsmax (NYSE:NMAX) Coverage Initiated by Analysts at Maxim Group

Maxim Group initiated coverage on shares of Newsmax (NYSE:NMAX - Get Free Report) in a research note issued on Thursday, Marketbeat reports. The firm set a "buy" rating and a $20.00 price target on the stock. Maxim Group's price objective suggests a potential upside of 38.41% from the stock's previous close.

Newsmax Stock Performance

Shares of NMAX stock traded down $0.22 during trading on Thursday, hitting $14.45. 233,552 shares of the company were exchanged, compared to its average volume of 2,049,882. The business's 50-day moving average is $16.43. Newsmax has a twelve month low of $11.82 and a twelve month high of $265.00.

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

Institutional Investors Weigh In On Newsmax

Several institutional investors and hedge funds have recently made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at $419,000. SOA Wealth Advisors LLC. acquired a new position in shares of Newsmax during the 2nd quarter worth about $32,000. Wolff Wiese Magana LLC acquired a new position in shares of Newsmax during the 2nd quarter worth about $92,000. Cove Private Wealth LLC acquired a new position in shares of Newsmax during the 2nd quarter worth about $210,000. Finally, PFS Partners LLC acquired a new position in shares of Newsmax during the 2nd quarter worth about $52,000.

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”).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.