Short Interest in Newsmax Inc. (NYSE:NMAX) Rises By 61.2%

Key Points

• Short interest in Newsmax Inc. (NYSE:NMAX) surged by 61.2% in September, reaching a total of 1,950,000 shares shorted, which is 3.0% of the company's stock.
• Institutional investors significantly altered their stakes in Newsmax, with Bank of America Corp DE increasing its position by a staggering 910,880.0%.
• Recent research reports saw conflicting ratings, with Wall Street Zen downgrading Newsmax to a "sell," while Noble Financial initiated coverage with an "outperform" rating and a price target of $23.00.

Newsmax Inc. (NYSE:NMAX - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 1,950,000 shares, a growth of 61.2% from the August 31st total of 1,210,000 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily trading volume, of 860,300 shares, the short-interest ratio is presently 2.3 days. Based on an average daily trading volume, of 860,300 shares, the short-interest ratio is presently 2.3 days. Currently, 3.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Newsmax

Institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised 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 during the period. Denver PWM LLC acquired a new position in shares of Newsmax during the second quarter worth approximately $1,630,000. HRT Financial LP raised 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 during the period. 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. purchased a new stake in Newsmax in the 2nd quarter valued at $1,279,000.

Wall Street Analyst Weigh In

NMAX has been the topic of several recent research reports. Wall Street Zen cut Newsmax from a "hold" rating to a "sell" rating in a research report on Friday. Noble Financial initiated coverage on Newsmax in a research report on Thursday, August 21st. They issued an "outperform" rating and a $23.00 price target on the stock. Zacks Research upgraded Newsmax to a "hold" rating in a research report on Friday, August 22nd. Weiss Ratings restated a "sell (e+)" rating on shares of Newsmax in a research report on Saturday, September 27th. Finally, Maxim Group initiated coverage on Newsmax in a research report on Thursday, July 24th. They issued a "buy" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $21.50.

Newsmax Price Performance

NMAX stock traded up $0.37 during trading on Monday, hitting $13.08. The company had a trading volume of 705,167 shares, compared to its average volume of 1,560,148. The stock has a 50-day moving average price of $13.10. Newsmax has a one year low of $11.40 and a one year high of $265.00.

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

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”).

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