Newsmax Inc. (NYSE:NMAX) Short Interest Up 28.0% in February

Newsmax Inc. (NYSE:NMAX) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 5,576,060 shares, a growth of 28.0% from the January 29th total of 4,355,002 shares. Based on an average daily trading volume, of 1,356,562 shares, the short-interest ratio is presently 4.1 days. Currently, 4.3% of the company’s stock are sold short. Currently, 4.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,356,562 shares, the short-interest ratio is presently 4.1 days.

Newsmax Trading Up 9.1%

NYSE:NMAX opened at $7.21 on Thursday. Newsmax has a twelve month low of $5.18 and a twelve month high of $265.00. The company has a market cap of $931.03 million and a PE ratio of -6.22. The company’s 50 day moving average is $6.93 and its two-hundred day moving average is $9.55.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NMAX shares. 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 research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Newsmax has a consensus rating of “Hold” and an average price target of $21.50.

Hedge Funds Weigh In On Newsmax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC purchased a new stake in Newsmax during the 4th quarter valued at about $176,208,000. State Street Corp lifted its holdings in shares of Newsmax by 520.9% during the fourth quarter. State Street Corp now owns 628,315 shares of the company’s stock worth $4,857,000 after purchasing an additional 527,126 shares during the period. Geode Capital Management LLC boosted its position in Newsmax by 329.1% in the fourth quarter. Geode Capital Management LLC now owns 574,465 shares of the company’s stock valued at $4,441,000 after buying an additional 440,577 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Newsmax by 1,033.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 458,679 shares of the company’s stock worth $3,546,000 after buying an additional 418,199 shares during the period. Finally, UBS Group AG raised its position in Newsmax by 4,495.3% during the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock worth $3,257,000 after buying an additional 412,173 shares during the last quarter.

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.