Newsmax (NYSE:NMAX) Trading Down 5.3% – Should You Sell?

Newsmax Inc. (NYSE:NMAX)’s share price fell 5.3% during mid-day trading on Friday . The company traded as low as $8.23 and last traded at $8.2950. 346,155 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,421,257 shares. The stock had previously closed at $8.76.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Newsmax presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Newsmax Stock Down 4.6%

The company’s fifty day moving average is $7.11 and its 200 day moving average is $7.26. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -12.68 and a beta of 2.93.

Newsmax (NYSE:NMAX) last announced its earnings results on Thursday, March 26th. The company reported $0.04 EPS for the quarter. The business had revenue of $52.24 million during the quarter. Newsmax had a negative net margin of 43.17% and a negative return on equity of 81.14%. On average, equities research analysts forecast that Newsmax Inc. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NMAX. Greenwich Wealth Management LLC bought a new position in Newsmax in the fourth quarter valued at approximately $176,208,000. State Street Corp boosted its stake in shares of Newsmax by 520.9% during the 4th quarter. State Street Corp now owns 628,315 shares of the company’s stock worth $4,857,000 after acquiring an additional 527,126 shares during the period. Geode Capital Management LLC boosted its stake in shares of Newsmax by 329.1% during the 4th quarter. Geode Capital Management LLC now owns 574,465 shares of the company’s stock worth $4,441,000 after acquiring an additional 440,577 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Newsmax by 1,033.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company’s stock worth $3,546,000 after acquiring an additional 418,199 shares during the period. Finally, UBS Group AG boosted its stake in shares of Newsmax by 4,495.3% during the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock worth $3,257,000 after acquiring an additional 412,173 shares during the period.

About Newsmax

Newsmax (NYSE:NMAX) is a diversified media company that produces and distributes conservative-oriented news, opinion and informational content. The company operates across multiple platforms, including a cable news channel, a digital streaming service, a website, a print magazine and various mobile applications. Newsmax focuses on delivering political coverage, financial analysis and cultural commentary to its audience.

Originally launched as a news website in 1998, Newsmax expanded into print with the debut of Newsmax magazine in 2003 and later launched its flagship cable network, Newsmax TV, in 2014.