Newsmax (NYSE:NMAX) Reaches New 52-Week Low – Time to Sell?

Shares of Newsmax Inc. (NYSE:NMAX) hit a new 52-week low on Friday . The stock traded as low as $7.35 and last traded at $7.4850, with a volume of 53792 shares trading hands. The stock had previously closed at $7.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research note on Thursday. Noble Financial started coverage on shares of Newsmax in a research report on Thursday, August 21st. They set an “outperform” rating and a $23.00 price target for the company. Wall Street Zen raised shares of Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research raised Newsmax to a “hold” rating in a research note on Friday, August 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.50.

Newsmax Trading Down 1.0%

The company’s fifty day simple moving average is $10.82 and its 200 day simple moving average is $13.99. The firm has a market capitalization of $954.07 million and a P/E ratio of -6.37.

Newsmax (NYSE:NMAX) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The company had revenue of $45.27 million for the quarter. 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

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