Newsmax (NYSE:NMAX) Sets New 52-Week Low - Should You Sell?

Key Points

• Newsmax Inc. (NYSE:NMAX) reached a new 52-week low, trading at $11.26, with analysts giving mixed ratings, including a "hold" and "sell" rating from various research firms.
• Following a recent earnings report revealing ($0.59) earnings per share and a revenue of $46.44 million, the stock is down 4.5% from previous rates.
• Several hedge funds have increased their stakes in Newsmax, indicating potential interest from institutional investors despite recent stock performance.

Newsmax Inc. (NYSE:NMAX - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $11.26 and last traded at $11.40, with a volume of 619169 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

NMAX has been the topic of several research analyst reports. Zacks Research upgraded Newsmax to a "hold" rating in a report on Friday, August 22nd. Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a report on Wednesday. Noble Financial initiated coverage on Newsmax in a report on Thursday, August 21st. They set an "outperform" rating and a $23.00 target price on the stock. Wall Street Zen cut Newsmax from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, Maxim Group initiated 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $21.50.

Newsmax Stock Down 4.5%

The firm has a fifty day moving average of $13.02 and a 200-day moving average of $20.00.

Newsmax (NYSE:NMAX - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported ($0.59) earnings per share (EPS) for the quarter. The business had revenue of $46.44 million during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Newsmax

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Newsmax in the second quarter worth $491,000. Arkansas Financial Group Inc. acquired a new stake in shares of Newsmax during the second quarter worth about $327,000. Heck Capital Advisors LLC acquired a new stake in shares of Newsmax during the second quarter worth about $419,000. North Star Investment Management Corp. acquired a new stake in shares of Newsmax during the second quarter worth about $51,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of Newsmax during the second quarter worth about $92,000.

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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