Newsmax (NYSE:NMAX) Stock Price Down 5.5% - Time to Sell?

Key Points

• Newsmax Inc. (NYSE:NMAX) shares fell 5.5% to $12.23 during mid-day trading, with trading volume down 74% from average levels.
• Analyst ratings for Newsmax vary, with Zacks upgrading it to "hold" while others like Wall Street Zen downgraded to "sell", reflecting mixed sentiment.
• The company reported earnings of ($0.59) EPS for the last quarter, with revenue of $46.44 million, while setting FY 2025 guidance at an unspecified EPS.

Newsmax Inc. (NYSE:NMAX - Get Free Report) traded down 5.5% on Wednesday . The company traded as low as $12.30 and last traded at $12.23. 438,653 shares changed hands during trading, a decline of 74% from the average session volume of 1,703,467 shares. The stock had previously closed at $12.94.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Newsmax from a "sell" rating to a "hold" rating in a report on Saturday. Zacks Research raised Newsmax to a "hold" rating in a report on Friday, August 22nd. Noble Financial assumed coverage on Newsmax in a report on Thursday, August 21st. They set an "outperform" rating and a $23.00 price objective on the stock. Finally, Maxim Group assumed coverage on Newsmax in a report on Thursday, July 24th. They set a "buy" rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Newsmax Trading Down 0.9%

The firm has a fifty day moving average of $13.64.

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

Hedge Funds Weigh In On Newsmax

A number of large investors have recently modified their holdings of NMAX. Bank of America Corp DE lifted its position in shares of Newsmax by 910,880.0% during the second quarter. Bank of America Corp DE now owns 136,647 shares of the company's stock worth $2,067,000 after purchasing an additional 136,632 shares in the last quarter. Denver PWM LLC acquired a new position in shares of Newsmax during the second quarter worth approximately $1,630,000. HRT Financial LP lifted its position in shares of Newsmax by 4,150.9% during the second quarter. HRT Financial LP now owns 103,934 shares of the company's stock worth $1,572,000 after purchasing an additional 101,489 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Newsmax during the second quarter worth approximately $1,425,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Newsmax during the second quarter worth approximately $1,279,000.

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”).