Newsmax (NYSE:NMAX) Reaches New 1-Year Low - What's Next?

Key Points

• Newsmax Inc. shares reached a new 52-week low at $11.68, as trading volume hit 181,441 shares.
• Analysts from Maxim Group have initiated coverage with a "buy" rating and a target price of $20.00.
• In its latest earnings report, Newsmax posted a loss of ($0.53) per share on $45.30 million in revenue.

Newsmax Inc. (NYSE:NMAX - Get Free Report) shares hit a new 52-week low on Friday . The stock traded as low as $11.68 and last traded at $11.79, with a volume of 181441 shares trading hands. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on shares of Newsmax in a research note on Thursday, July 24th. They set a "buy" rating and a $20.00 target price for the company.

Newsmax Stock Down 1.1%

The business's fifty day simple moving average is $14.25.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. West Oak Capital LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at $30,000. SOA Wealth Advisors LLC. bought a new position in Newsmax in the second quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Newsmax during the second quarter worth about $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Newsmax in the 2nd quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Newsmax in the 1st quarter valued at approximately $39,000.

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”).

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