Newsmax (NYSE:NMAX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Newsmax (NYSE:NMAX) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other equities analysts have also recently commented on NMAX. Maxim Group initiated coverage on Newsmax in a report on Thursday, July 24th. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Newsmax in a research report on Wednesday, October 8th. Zacks Research upgraded Newsmax to a “hold” rating in a research note on Friday, August 22nd. Finally, Noble Financial began coverage on Newsmax in a report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.50.

Newsmax Trading Down 4.2%

NYSE:NMAX opened at $7.60 on Friday. The stock has a market capitalization of $980.65 million and a PE ratio of -6.78. Newsmax has a 1-year low of $7.45 and a 1-year high of $265.00. The firm has a fifty day simple moving average of $11.21 and a 200 day simple moving average of $14.36.

Newsmax (NYSE:NMAX) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $45.27 million during the quarter. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Newsmax has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Newsmax

Hedge funds have recently bought and sold shares of the stock. CWM LLC acquired a new position in shares of Newsmax in the first quarter valued at approximately $47,000. Armstrong Advisory Group Inc. lifted its holdings in Newsmax by 17.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 9,263 shares of the company’s stock worth $115,000 after purchasing an additional 1,344 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Newsmax by 139.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock valued at $30,000 after purchasing an additional 1,398 shares during the period. Hollencrest Capital Management acquired a new position in Newsmax in the 2nd quarter valued at $25,000. Finally, West Oak Capital LLC acquired a new position in Newsmax in the 2nd quarter valued at $30,000.

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”).