Newsmax (NYSE:NMAX) Raised to "Hold" 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 research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

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

Newsmax Price Performance

NYSE NMAX traded up $0.18 during trading on Friday, reaching $12.99. 385,444 shares of the company's stock were exchanged, compared to its average volume of 1,661,929. The stock has a 50 day simple moving average of $13.54. Newsmax has a 1 year low of $11.40 and a 1 year high of $265.00.

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

Institutional Investors Weigh In On Newsmax

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in Newsmax in the 2nd quarter valued at approximately $25,000. West Oak Capital LLC acquired a new stake in Newsmax in the second quarter valued at $30,000. SOA Wealth Advisors LLC. purchased a new position in shares of Newsmax in the second quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Newsmax during the 2nd quarter worth $32,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Newsmax in the 2nd quarter worth about $32,000.

Newsmax Company Profile

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”).