Newsmax (NYSE:NMAX) Trading Down 6.7% - Here's What Happened

Key Points

• Shares of Newsmax (NYSE:NMAX) fell about 6.7% on Friday to $6.26, trading as low as $6.33 on a volume of ~625,044 shares, roughly 55% below its average daily volume.
• Analyst sentiment is mixed: MarketBeat shows a consensus Hold with a $21.50 price target (2 Buys, 1 Hold, 1 Sell), while Weiss Ratings reiterated a "sell (D-)" rating.
• Fundamentals are weak — market cap ≈ $803.8M, trailing P/E -5.37, negative ROE (−82.25%) and net margin (−52.57%); latest quarter showed $0.04 EPS on $52.24M revenue and analysts expect −$0.19 EPS for the year.

Shares of Newsmax Inc. (NYSE:NMAX - Get Free Report) dropped 6.7% on Friday . The stock traded as low as $6.33 and last traded at $6.2610. Approximately 625,044 shares were traded during trading, a decline of 55% from the average daily volume of 1,379,511 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Newsmax in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Newsmax has a consensus rating of "Hold" and a consensus price target of $21.50.

Newsmax Stock Down 7.2%

The company has a market capitalization of $803.77 million and a P/E ratio of -5.37. The business has a fifty day moving average price of $6.37 and a 200 day moving average price of $7.88.

Newsmax (NYSE:NMAX - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.04 EPS for the quarter. The company had revenue of $52.24 million for the quarter. Newsmax had a negative return on equity of 82.25% and a negative net margin of 52.57%. As a group, equities analysts forecast that Newsmax Inc. will post -0.19 earnings per share for the current year.

Institutional Trading of Newsmax

A number of institutional investors have recently modified their holdings of the company. Apollon Wealth Management LLC bought a new stake in shares of Newsmax in the first quarter valued at about $65,000. Allegheny Financial Group bought a new stake in shares of Newsmax in the first quarter valued at about $69,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Newsmax in the fourth quarter valued at about $230,000. Aristides Capital LLC bought a new stake in shares of Newsmax in the fourth quarter valued at about $162,000. Finally, Virtu Financial LLC acquired a new stake in shares of Newsmax in the fourth quarter valued at about $378,000.

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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