Newsmax (NYSE:NMAX) Rating Increased to Hold at Wall Street Zen

Newsmax (NYSE:NMAX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research firms have also weighed in on NMAX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, October 8th. Zacks Research raised shares of Newsmax to a “hold” rating in a research note on Friday, August 22nd. Noble Financial began coverage on Newsmax in a report on Thursday, August 21st. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Maxim Group initiated coverage on Newsmax in a research note on Thursday, July 24th. They issued a “buy” rating and a $20.00 target price on the stock. Two research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.50.

Newsmax Trading Down 7.1%

NYSE:NMAX opened at $7.92 on Friday. The business’s fifty day moving average price is $11.32 and its 200 day moving average price is $14.58. The firm has a market capitalization of $1.02 billion and a price-to-earnings ratio of -7.07. Newsmax has a 1-year low of $7.90 and a 1-year high of $265.00.

Newsmax (NYSE:NMAX) last released its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.09. The business had revenue of $45.27 million for the quarter. The business’s revenue was up 4.0% on a year-over-year basis. Newsmax has set its FY 2025 guidance at EPS.

Institutional Trading of Newsmax

Several large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Newsmax in the 2nd quarter valued at $491,000. Rovin Capital UT ADV bought a new stake in Newsmax during the second quarter valued at about $605,000. Stephens Inc. AR bought a new stake in Newsmax during the second quarter valued at about $749,000. Arkansas Financial Group Inc. acquired a new stake in shares of Newsmax in the second quarter valued at about $327,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Newsmax in the second quarter worth about $419,000.

Newsmax Company Profile

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”).