Newsmax (NYSE:NMAX) Reaches New 12-Month Low – Here’s Why

Newsmax Inc. (NYSE:NMAX)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.24 and last traded at $7.1950, with a volume of 258809 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Newsmax from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Newsmax currently has a consensus rating of “Hold” and a consensus price target of $21.50.

Newsmax Stock Performance

The firm has a market cap of $908.43 million and a P/E ratio of -6.06. The firm’s fifty day moving average is $8.26 and its 200 day moving average is $10.88.

Newsmax (NYSE:NMAX) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.09. The firm had revenue of $45.27 million during the quarter. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The business’s revenue was up 4.0% compared to the same quarter last year.

Institutional Investors Weigh In On Newsmax

A number of hedge funds and other institutional investors have recently modified their holdings of NMAX. Hollencrest Capital Management bought a new stake in shares of Newsmax in the second quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in Newsmax in the 3rd quarter worth about $26,000. SOA Wealth Advisors LLC. bought a new stake in Newsmax in the 2nd quarter valued at about $32,000. Osterweis Capital Management Inc. acquired a new position in shares of Newsmax during the 2nd quarter worth approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Newsmax during the second quarter worth approximately $32,000.

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.