Newsmax (NYSE:NMAX) Stock Price Down 5.6% – What’s Next?

Newsmax Inc. (NYSE:NMAX) dropped 5.6% during trading on Friday . The company traded as low as $7.96 and last traded at $8.04. Approximately 878,898 shares were traded during trading, a decline of 38% from the average daily volume of 1,428,874 shares. The stock had previously closed at $8.52.

Analysts Set New Price Targets

A number of research analysts have recently commented on NMAX shares. Zacks Research raised Newsmax to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a research note on Wednesday, October 8th. Maxim Group initiated coverage on Newsmax in a research report on Thursday, July 24th. They set a “buy” rating and a $20.00 price objective on the stock. Noble Financial began coverage on Newsmax in a research report on Thursday, August 21st. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Wall Street Zen cut Newsmax from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. 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 company’s stock. Based on data from MarketBeat.com, Newsmax currently has a consensus rating of “Hold” and a consensus target price of $21.50.

Newsmax Trading Down 7.1%

The stock’s 50 day moving average is $11.43 and its 200-day moving average is $14.69. The company has a market cap of $1.02 billion and a P/E ratio of -7.07.

Newsmax (NYSE:NMAX) last issued its earnings results 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’s 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 institutional investors and hedge funds have recently added to or reduced their stakes in NMAX. Wealth Enhancement Advisory Services LLC purchased a new stake in Newsmax during the 2nd quarter valued at $491,000. Rovin Capital UT ADV bought a new stake in shares of Newsmax in the second quarter worth $605,000. Stephens Inc. AR purchased a new stake in Newsmax during the second quarter valued at $749,000. Arkansas Financial Group Inc. bought a new position in Newsmax in the second quarter valued at about $327,000. Finally, Heck Capital Advisors LLC purchased a new position in Newsmax in the second quarter worth 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”).