Newsmax (NYSE:NMAX) Sets New 52-Week Low – What’s Next?

Newsmax Inc. (NYSE:NMAX) shares reached a new 52-week low on Tuesday . The stock traded as low as $7.24 and last traded at $7.1950, with a volume of 258809 shares traded. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

NMAX has been the subject of a number of research reports. Wall Street Zen upgraded Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Newsmax Stock Down 5.9%

The company has a market capitalization of $908.43 million and a P/E ratio of -6.06. The business has a fifty day moving average price of $8.26 and a 200 day moving average price of $10.88.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Financial Consulate Inc. increased its stake in Newsmax by 50,418.5% in the 4th quarter. Financial Consulate Inc. now owns 13,640 shares of the company’s stock valued at $105,000 after buying an additional 13,613 shares during the last quarter. Defender Capital LLC. bought a new position in shares of Newsmax in the 4th quarter valued at about $211,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Newsmax by 17.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,359 shares of the company’s stock valued at $293,000 after acquiring an additional 5,567 shares during the last quarter. Allworth Financial LP raised its holdings in Newsmax by 315.1% during the third quarter. Allworth Financial LP now owns 5,272 shares of the company’s stock worth $65,000 after acquiring an additional 4,002 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in Newsmax during the third quarter valued at approximately $26,000.

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.