Newsmax Inc. (NYSE:NMAX) Short Interest Update

Newsmax Inc. (NYSE:NMAX) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 3,458,537 shares, a growth of 41.2% from the December 15th total of 2,449,745 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,269,357 shares, the days-to-cover ratio is presently 2.7 days. Based on an average daily trading volume, of 1,269,357 shares, the days-to-cover ratio is presently 2.7 days. Approximately 2.7% of the company’s stock are short sold.

Newsmax Stock Up 2.3%

Shares of NMAX opened at $7.96 on Monday. Newsmax has a twelve month low of $7.31 and a twelve month high of $265.00. The stock has a market cap of $1.03 billion and a PE ratio of -6.86. The business’s 50-day moving average price is $8.35 and its 200-day moving average price is $11.19.

Newsmax (NYSE:NMAX) last announced its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.The business had revenue of $45.27 million for the quarter. The business’s quarterly revenue was up 4.0% on a year-over-year basis.

Institutional Trading of Newsmax

A number of institutional investors have recently made changes to their positions in the stock. Soviero Asset Management LP purchased a new position in shares of Newsmax in the third quarter worth $2,914,000. Bank of America Corp DE boosted its position in Newsmax by 910,880.0% during the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock valued at $2,067,000 after buying an additional 136,632 shares during the period. Denver PWM LLC bought a new stake in Newsmax in the 2nd quarter worth $1,630,000. HRT Financial LP increased its position in shares of Newsmax by 4,150.9% in the second quarter. HRT Financial LP now owns 103,934 shares of the company’s stock valued at $1,572,000 after acquiring an additional 101,489 shares during the period. Finally, Geode Capital Management LLC bought a new position in shares of Newsmax during the second quarter valued at about $1,425,000.

Analysts Set New Price Targets

Several research firms have commented on NMAX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.50.

Newsmax Company Profile

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.