Newsmax (NYSE:NMAX) Upgraded at Wall Street Zen

Key Points

• Newsmax was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook for the stock.
• The company's average rating is now a "Moderate Buy" with a consensus price target of $21.50, following positive assessments from several analysts.
• Newsmax's recent quarterly earnings showed a loss of ($0.59) per share with revenue reported at $46.44 million.

Newsmax (NYSE:NMAX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on NMAX. Zacks Research raised shares of Newsmax to a "hold" rating in a research note on Friday, August 22nd. Maxim Group initiated coverage on shares of Newsmax in a research note on Thursday, July 24th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Noble Financial initiated coverage on shares of Newsmax in a research note on Thursday, August 21st. They issued an "outperform" rating and a $23.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Newsmax has a consensus rating of "Moderate Buy" and an average target price of $21.50.

Newsmax Price Performance

NMAX stock traded up $0.04 on Friday, hitting $12.90. The company's stock had a trading volume of 563,736 shares, compared to its average volume of 904,891. The firm's 50 day simple moving average is $13.45. Newsmax has a 1 year low of $11.40 and a 1 year high of $265.00.

Newsmax (NYSE:NMAX - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The company reported ($0.59) EPS for the quarter. The company 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its stake in shares of Newsmax by 136,724.0% during the 2nd quarter. Osaic Holdings Inc. now owns 34,206 shares of the company's stock worth $518,000 after purchasing an additional 34,181 shares during the period. Marex Group plc acquired a new position in shares of Newsmax during the 2nd quarter worth $165,000. Hollencrest Capital Management acquired a new position in shares of Newsmax during the 2nd quarter worth $25,000. Tower Research Capital LLC TRC acquired a new position in shares of Newsmax during the 2nd quarter worth $76,000. Finally, HRT Financial LP boosted its position in shares of Newsmax by 4,150.9% in the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company's stock worth $1,572,000 after buying an additional 101,489 shares in the last quarter.

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”).