Newsmax (NYSE:NMAX) Reaches New 52-Week Low – Should You Sell?

Newsmax Inc. (NYSE:NMAX) hit a new 52-week low during trading on Monday . The stock traded as low as $5.17 and last traded at $5.3040, with a volume of 785044 shares. The stock had previously closed at $5.88.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a research report on Friday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.50.

Newsmax Trading Up 5.1%

The company has a fifty day moving average of $6.48 and a 200-day moving average of $8.57. The company has a market capitalization of $708.27 million and a price-to-earnings ratio of -4.73.

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 return on equity of 82.25% and a negative net margin of 52.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMAX. Greenwich Wealth Management LLC purchased a new stake in shares of Newsmax during the fourth quarter worth $176,208,000. State Street Corp lifted its stake in shares of Newsmax by 520.9% in the fourth quarter. State Street Corp now owns 628,315 shares of the company’s stock worth $4,857,000 after buying an additional 527,126 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Newsmax by 329.1% in the fourth quarter. Geode Capital Management LLC now owns 574,465 shares of the company’s stock worth $4,441,000 after buying an additional 440,577 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Newsmax by 1,033.1% during the fourth 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 last quarter. Finally, UBS Group AG boosted its position in Newsmax by 4,495.3% during the fourth 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 last quarter.

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.