Newsmax (NYSE:NMAX) Hits New 12-Month Low - Here's Why

Key Points

• Newsmax shares hit a new 52-week low of $6.83 and last traded at $6.9050 on volume of about 1,002,867, with the 50‑day and 200‑day moving averages at $8.21 and $10.67, respectively, signaling recent downward momentum.
• Analysts are mixed but average to a Hold rating with an average price target of $21.50 (two Buys, one Hold, one Sell); Weiss Ratings reiterated a sell while Wall Street Zen upgraded to hold.
• Recent results showed an EPS beat (‑$0.03 vs. consensus ‑$0.12) and revenue of $45.27M (up 4% YoY), but the company remains unprofitable with a net margin of ‑55.99%, negative return on equity of 255.61%, and a market cap of about $856M.

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $6.83 and last traded at $6.9050, with a volume of 1002867 shares. The stock had previously closed at $7.06.

Analysts Set New Price Targets

NMAX has been the topic of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Newsmax in a research note on Monday, December 29th. Wall Street Zen raised shares of Newsmax from a "sell" rating to a "hold" rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $21.50.

Newsmax Stock Performance

The stock's 50 day moving average price is $8.21 and its 200-day moving average price is $10.67. The company has a market cap of $856.13 million and a PE ratio of -5.71.

Newsmax (NYSE:NMAX - Get Free Report) last released its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.The company had revenue of $45.27 million during the quarter. Newsmax's revenue was up 4.0% on a year-over-year basis.

Institutional Trading of Newsmax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in Newsmax by 4,495.3% in the fourth quarter. UBS Group AG now owns 421,342 shares of the company's stock worth $3,257,000 after buying an additional 412,173 shares in the last quarter. Soviero Asset Management LP bought a new position in Newsmax in the third quarter worth $2,914,000. Bank of America Corp DE lifted its position in Newsmax by 910,880.0% during the second quarter. Bank of America Corp DE now owns 136,647 shares of the company's stock valued at $2,067,000 after buying an additional 136,632 shares during the period. Denver PWM LLC bought a new stake in shares of Newsmax during the 2nd quarter valued at $1,630,000. Finally, HRT Financial LP grew its position in shares of Newsmax by 4,150.9% in the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company's stock worth $1,572,000 after buying an additional 101,489 shares during the period.

About Newsmax

Newsmax NYSE: NMAX is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.

Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.

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