Newsmax (NYSE:NMAX) Reaches New 1-Year Low – Time to Sell?

Newsmax Inc. (NYSE:NMAX)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $6.83 and last traded at $6.9050, with a volume of 1002867 shares trading hands. The stock had previously closed at $7.06.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Wall Street Zen upgraded 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 assigned a Sell rating to the stock. According to data from MarketBeat, Newsmax has an average rating of “Hold” and a consensus target price of $21.50.

Newsmax Stock Down 1.2%

The stock has a market cap of $842.31 million and a P/E ratio of -5.63. The company’s 50 day moving average price is $8.14 and its 200-day moving average price is $10.56.

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

Hedge Funds Weigh In On Newsmax

Hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its position in shares of Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock worth $3,257,000 after purchasing an additional 412,173 shares during the period. Soviero Asset Management LP bought a new position in Newsmax during the third quarter worth $2,914,000. Bank of America Corp DE lifted its holdings in Newsmax by 910,880.0% in the second 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 during the second quarter valued at $1,630,000. Finally, HRT Financial LP boosted its position in Newsmax by 4,150.9% during 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 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.