Short Interest in Newsmax Inc. (NYSE:NMAX) Rises By 19.7%

Newsmax Inc. (NYSE:NMAX) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 4,355,002 shares, an increase of 19.7% from the January 15th total of 3,638,495 shares. Currently, 3.4% of the company’s stock are short sold. Based on an average trading volume of 1,048,185 shares, the days-to-cover ratio is presently 4.2 days. Based on an average trading volume of 1,048,185 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NMAX. Armstrong Advisory Group Inc. increased its holdings in shares of Newsmax by 17.0% in the third quarter. Armstrong Advisory Group Inc. now owns 9,263 shares of the company’s stock valued at $115,000 after purchasing an additional 1,344 shares during the period. Harbor Investment Advisory LLC increased its stake in Newsmax by 139.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock valued at $30,000 after buying an additional 1,398 shares during the period. Hollencrest Capital Management purchased a new position in Newsmax during the 2nd quarter worth $25,000. Foundations Investment Advisors LLC lifted its stake in shares of Newsmax by 15.1% in the 4th quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company’s stock worth $101,000 after acquiring an additional 1,711 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Newsmax in the third quarter valued at about $26,000.

Analysts Set New Price Targets

Several equities analysts have 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 shares of Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.50.

Newsmax Stock Up 1.7%

NYSE:NMAX traded up $0.09 during trading hours on Tuesday, reaching $5.49. 887,775 shares of the company’s stock were exchanged, compared to its average volume of 1,085,828. The firm has a market capitalization of $708.92 million and a price-to-earnings ratio of -4.73. Newsmax has a 1-year low of $5.18 and a 1-year high of $265.00. The company has a 50-day moving average of $7.72 and a 200 day moving average of $10.06.

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.