Wall Street Zen Downgrades Newsmax (NYSE:NMAX) to Sell

Key Points

• Newsmax has been downgraded to a "sell" rating by analysts at Wall Street Zen, shifting from a previous "hold" rating.
• Other analysts, such as Noble Financial and Maxim Group, have initiated coverage with "outperform" and "buy" ratings, respectively.
• The stock recently opened at $15.16 with a 1-year price range between $11.40 and $265.00, reflecting significant volatility.

Newsmax (NYSE:NMAX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

A number of other research analysts have also weighed in on NMAX. Noble Financial assumed coverage on shares of Newsmax in a research note on Thursday. They issued an "outperform" rating and a $23.00 price target on the stock. Maxim Group started coverage on shares of Newsmax in a report on Thursday, July 24th. They set a "buy" rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $21.50.

Newsmax Trading Down 2.4%

NYSE:NMAX traded down $0.37 on Friday, reaching $14.87. The company's stock had a trading volume of 1,313,043 shares, compared to its average volume of 887,021. Newsmax has a 1-year low of $11.40 and a 1-year high of $265.00. The stock's 50-day moving average price is $13.61.

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

Hedge Funds Weigh In On Newsmax

A number of institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in Newsmax in the second quarter valued at $25,000. West Oak Capital LLC acquired a new position in shares of Newsmax during the 2nd quarter worth about $30,000. SOA Wealth Advisors LLC. bought a new stake in shares of Newsmax in the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Newsmax in the 2nd quarter valued at about $32,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Newsmax in the 2nd quarter valued at about $32,000.

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”).