Newsmax Inc. (NYSE:NMAX - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.06 and last traded at $11.07, with a volume of 292643 shares changing hands. The stock had previously closed at $11.28.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Maxim Group assumed coverage on Newsmax in a research report on Thursday, July 24th. They issued a "buy" rating and a $20.00 price objective on the stock. Zacks Research upgraded Newsmax to a "hold" rating in a research report on Friday, August 22nd. Noble Financial initiated coverage on Newsmax in a research report on Thursday, August 21st. They set an "outperform" rating and a $23.00 target price on the stock. Wall Street Zen downgraded Newsmax from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Newsmax currently has an average rating of "Hold" and an average target price of $21.50.
View Our Latest Stock Analysis on Newsmax
Newsmax Trading Down 3.7%
The business has a 50 day simple moving average of $12.92 and a two-hundred day simple moving average of $19.76.
Newsmax (NYSE:NMAX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($0.59) earnings per share for the quarter. The business 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 made changes to their positions in the stock. Bank of America Corp DE raised its stake in Newsmax by 910,880.0% during the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company's stock valued at $2,067,000 after acquiring an additional 136,632 shares in the last quarter. Denver PWM LLC bought a new stake in Newsmax during the 2nd quarter valued at $1,630,000. HRT Financial LP increased its position in shares of Newsmax by 4,150.9% during the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company's stock valued at $1,572,000 after purchasing an additional 101,489 shares during the period. Geode Capital Management LLC acquired a new position in shares of Newsmax during the 2nd quarter valued at $1,425,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Newsmax during the 2nd quarter valued at $1,279,000.
About Newsmax
(
Get Free Report)
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”).
Further Reading
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