Newsmax (NYSE:NMAX) Reaches New 12-Month Low - Here's What Happened

Key Points

• Newsmax Inc. (NYSE:NMAX) shares hit a new 12-month low, trading as low as $10.67 and last at $10.89, following a significant drop from a previous closing price of $11.18.
• Analysts have mixed sentiments on Newsmax's stock, with ratings ranging from "buy" to "sell," and a consensus rating of "hold" with an average target price of $21.50.
• Recent institutional investments indicate interest in Newsmax, with multiple firms acquiring new stakes valued from $51,000 to $491,000 in the second quarter.

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s stock price reached a new 52-week low on Friday . The stock traded as low as $10.67 and last traded at $10.89, with a volume of 797739 shares. The stock had previously closed at $11.18.

Wall Street Analyst Weigh In

NMAX has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Newsmax in a research report on Wednesday, October 8th. Wall Street Zen lowered Newsmax from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Noble Financial initiated coverage on Newsmax in a research report on Thursday, August 21st. They set an "outperform" rating and a $23.00 price target on the stock. Zacks Research raised Newsmax to a "hold" rating in a research report on Friday, August 22nd. Finally, Maxim Group began coverage on Newsmax in a report on Thursday, July 24th. They set a "buy" rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Newsmax currently has a consensus rating of "Hold" and an average target price of $21.50.

Newsmax Stock Performance

The business has a fifty day moving average of $12.83 and a two-hundred day moving average of $16.62.

Newsmax (NYSE:NMAX - Get Free Report) last posted its earnings results on Tuesday, August 19th. The company reported ($0.59) earnings per share 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

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Newsmax in the 2nd quarter valued at $491,000. Arkansas Financial Group Inc. bought a new stake in Newsmax in the 2nd quarter valued at $327,000. Heck Capital Advisors LLC bought a new stake in Newsmax in the 2nd quarter valued at $419,000. North Star Investment Management Corp. bought a new stake in Newsmax in the 2nd quarter valued at $51,000. Finally, Axxcess Wealth Management LLC bought a new stake in Newsmax in the 2nd quarter valued at $282,000.

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”).

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