Wall Street Zen Downgrades Newsmax (NYSE:NMAX) to Sell

Key Points

• Wall Street Zen has downgraded Newsmax (NYSE:NMAX) from a "hold" rating to a "sell" rating, with the research note issued on Friday.
• Currently, Newsmax has a consensus rating of "Hold" and an average price target of $21.50, according to MarketBeat.com.
• In recent trading, Newsmax's stock was at $12.71, with its 52-week range spanning from a low of $11.40 to a high of $265.00.

Newsmax (NYSE:NMAX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Friday.

A number of other research firms also recently commented on NMAX. Noble Financial started coverage on Newsmax in a research report on Thursday, August 21st. They issued an "outperform" rating and a $23.00 target price on the stock. Maxim Group started coverage on Newsmax in a research note on Thursday, July 24th. They set a "buy" rating and a $20.00 target price for the company. Zacks Research raised Newsmax to a "hold" rating in a report on Friday, August 22nd. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Newsmax in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $21.50.

Newsmax Stock Performance

Newsmax stock traded down $0.00 during trading on Friday, reaching $12.71. 500,739 shares of the company were exchanged, compared to its average volume of 688,838. Newsmax has a 52-week low of $11.40 and a 52-week high of $265.00. The firm's 50 day moving average price is $13.10.

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

Institutional Trading of Newsmax

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its stake in Newsmax by 136,724.0% during the 2nd quarter. Osaic Holdings Inc. now owns 34,206 shares of the company's stock valued at $518,000 after acquiring an additional 34,181 shares during the last quarter. Marex Group plc purchased a new position in shares of Newsmax during the 2nd quarter worth approximately $165,000. Hollencrest Capital Management purchased a new position in shares of Newsmax during the 2nd quarter worth approximately $25,000. Tower Research Capital LLC TRC purchased a new position in shares of Newsmax during the 2nd quarter worth approximately $76,000. Finally, HRT Financial LP raised its stake in shares of Newsmax by 4,150.9% during 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”).

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