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

Key Points

• Weiss Ratings has reiterated a "sell (E+)" rating for Newsmax (NYSE:NMAX), indicating continued concerns about the company's stock performance.
• Newsmax's stock is currently priced at $10.86, down 2.9% recently, with a significant 1-year high of $265.00 and a low of $10.67.
• Analysts have mixed ratings for Newsmax, with two Buy ratings, one Hold, and one Sell, resulting in an average rating of "Hold" with a target price of $21.50.

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

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised Newsmax to a "hold" rating in a research report on Friday, August 22nd. Wall Street Zen downgraded Newsmax from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Maxim Group initiated coverage on Newsmax in a research report on Thursday, July 24th. They set a "buy" rating and a $20.00 price objective on the stock. Finally, Noble Financial initiated coverage on Newsmax in a report on Thursday, August 21st. They issued an "outperform" rating and a $23.00 price target for the company. Two research 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. Based on data from MarketBeat.com, Newsmax presently has an average rating of "Hold" and an average price target of $21.50.

Newsmax Stock Down 2.9%

Shares of NMAX stock opened at $10.86 on Friday. Newsmax has a 1-year low of $10.67 and a 1-year high of $265.00. The stock's 50-day moving average is $12.81 and its 200 day moving average is $16.28.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NMAX. Hollencrest Capital Management purchased a new position in shares of Newsmax in the second quarter worth about $25,000. West Oak Capital LLC purchased a new position in Newsmax during the second quarter valued at approximately $30,000. SOA Wealth Advisors LLC. purchased a new position in Newsmax during the second quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Newsmax during the second quarter valued at approximately $32,000. Finally, Osterweis Capital Management Inc. purchased a new position in Newsmax during the second quarter valued at approximately $32,000.

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”).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.