Newsmax (NYSE:NMAX) Upgraded at Wall Street Zen

Newsmax (NYSE:NMAX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other analysts have also commented on the company. Zacks Research upgraded Newsmax to a “hold” rating in a report on Friday, August 22nd. Noble Financial initiated coverage on Newsmax in a report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Maxim Group initiated coverage on Newsmax in a research note on Thursday, July 24th. They issued a “buy” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Newsmax Stock Performance

Shares of Newsmax stock opened at $12.81 on Friday. The company’s 50-day simple moving average is $13.64. Newsmax has a one year low of $11.40 and a one year high of $265.00.

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

Institutional Investors Weigh In On Newsmax

Several institutional investors and hedge funds have recently made changes to their positions in NMAX. Hollencrest Capital Management acquired a new stake in shares of Newsmax during the second quarter worth $25,000. West Oak Capital LLC acquired a new position in Newsmax during the second quarter valued at $30,000. SOA Wealth Advisors LLC. acquired a new position in Newsmax during the second quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Newsmax during the second quarter valued at $32,000. Finally, Osterweis Capital Management Inc. acquired a new position in Newsmax during the second quarter valued at $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”).