Newsmax (NYSE:NMAX) Rating Lowered to Sell at Wall Street Zen

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 researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

A number of other research firms have also recently weighed in on NMAX. Noble Financial began coverage on Newsmax in a research report on Thursday, August 21st. They set an "outperform" rating and a $23.00 price objective for the company. Maxim Group began coverage on Newsmax in a research report on Thursday, July 24th. They set a "buy" rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Newsmax Stock Up 0.1%

NYSE:NMAX traded up $0.01 during mid-day trading on Friday, reaching $15.36. 591,369 shares of the stock were exchanged, compared to its average volume of 1,015,308. The company has a 50 day moving average of $13.74. Newsmax has a 1 year low of $11.40 and a 1 year high of $265.00.

Newsmax (NYSE:NMAX - Get Free Report) last released its quarterly 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 during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Institutional Trading of Newsmax

Several hedge funds have recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new stake in shares of Newsmax in the 1st quarter valued at approximately $39,000. CWM LLC acquired a new stake in shares of Newsmax in the 1st quarter valued at approximately $47,000. Allworth Financial LP acquired a new stake in shares of Newsmax in the 1st quarter valued at approximately $89,000. Hollencrest Capital Management acquired a new stake in shares of Newsmax in the 2nd quarter valued at approximately $25,000. Finally, West Oak Capital LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at approximately $30,000.

About Newsmax

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”).