Newsmax (NYSE:NMAX) Trading Down 0.5% - Time to Sell?

Key Points

• Newsmax shares dipped 0.5% on Tuesday, trading between $8.03 and $8.19 on lighter-than-average volume of 521,178 shares.
• Analyst sentiment remains mixed: Weiss Ratings reaffirmed a “sell (e+)” rating, while the broader consensus from MarketBeat is still “Hold” with a $21.50 price target.
• Despite recent volatility, the stock’s 50-day moving average is $8.11 and its 200-day moving average is $7.14, with institutional investors making modest stake increases in the latest quarter.

Newsmax Inc. (NYSE:NMAX - Get Free Report) fell 0.5% on Tuesday . The stock traded as low as $8.03 and last traded at $8.1450. 521,178 shares traded hands during trading, a decline of 49% from the average daily volume of 1,023,716 shares. The stock had previously closed at $8.19.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Newsmax in a report on Wednesday, July 8th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.50.

Newsmax Stock Performance

The business's fifty day moving average price is $8.11 and its two-hundred day moving average price is $7.14. The stock has a market capitalization of $1.05 billion, a P/E ratio of -12.34 and a beta of 2.65.

Institutional Investors Weigh In On Newsmax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of Newsmax by 7.9% in the 1st quarter. NewEdge Advisors LLC now owns 17,415 shares of the company's stock valued at $91,000 after purchasing an additional 1,282 shares during the last quarter. Entropy Technologies LP increased its position in shares of Newsmax by 54.7% during the 1st quarter. Entropy Technologies LP now owns 35,280 shares of the company's stock valued at $184,000 after purchasing an additional 12,480 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Newsmax by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 35,302 shares of the company's stock valued at $184,000 after purchasing an additional 1,725 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Newsmax by 5.0% during the 1st quarter. Bank of New York Mellon Corp now owns 110,775 shares of the company's stock valued at $578,000 after buying an additional 5,283 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in Newsmax by 6.9% during the 1st quarter. Kestra Advisory Services LLC now owns 41,747 shares of the company's stock valued at $218,000 after buying an additional 2,697 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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