Weiss Ratings Reaffirms Sell (E+) Rating for Newsmax (NYSE:NMAX)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Newsmax (NYSE:NMAX), indicating a negative outlook for the company's stock.
• Newsmax's stock closed at $12.17, down 1.7%, with a 12-month low of $11.40 and high of $265.00, reflecting significant volatility.
• Despite Weiss Ratings' downgrade, other analysts have varying opinions, with Noble Financial and Maxim Group issuing "outperform" and "buy" ratings, respectively.

Newsmax (NYSE:NMAX - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also commented on NMAX. Noble Financial began coverage on Newsmax in a research report on Thursday, August 21st. They set an "outperform" rating and a $23.00 price target on the stock. Maxim Group began coverage on Newsmax in a research report on Thursday, July 24th. They set a "buy" rating and a $20.00 price target on the stock. Zacks Research upgraded Newsmax to a "hold" rating in a research report on Friday, August 22nd. Finally, Wall Street Zen lowered Newsmax from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.50.

Newsmax Trading Down 1.7%

Shares of NMAX stock traded down $0.21 during trading hours on Wednesday, hitting $12.17. The company had a trading volume of 69,178 shares, compared to its average volume of 1,538,715. Newsmax has a 12 month low of $11.40 and a 12 month high of $265.00. The stock's fifty day moving average is $13.05.

Newsmax (NYSE:NMAX - Get Free Report) last released its quarterly earnings data 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 Trading of Newsmax

Several hedge funds have recently added to or reduced their stakes in NMAX. Bank of America Corp DE raised its stake in shares of Newsmax by 910,880.0% in the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company's stock valued at $2,067,000 after purchasing an additional 136,632 shares during the period. Denver PWM LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at about $1,630,000. HRT Financial LP raised its stake 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 valued at $1,572,000 after purchasing an additional 101,489 shares during the period. Geode Capital Management LLC acquired a new stake in shares of Newsmax in the 2nd quarter valued at about $1,425,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Newsmax in the 2nd quarter valued at about $1,279,000.

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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