Newsmax (NYSE:NMAX) Trading Up 11.7% – Still a Buy?

Newsmax Inc. (NYSE:NMAX) was up 11.7% during trading on Thursday . The company traded as high as $8.57 and last traded at $8.7040. Approximately 1,514,063 shares changed hands during trading, an increase of 8% from the average daily volume of 1,405,231 shares. The stock had previously closed at $7.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Newsmax in a research report on Friday, March 27th. Two investment 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 data from MarketBeat.com, Newsmax presently has a consensus rating of “Hold” and a consensus price target of $21.50.

Newsmax Stock Down 2.2%

The firm has a market capitalization of $1.10 billion, a P/E ratio of -12.96 and a beta of 2.25. The stock has a fifty day simple moving average of $6.59 and a 200 day simple moving average of $7.21.

Newsmax (NYSE:NMAX) last released its quarterly earnings data on Thursday, March 26th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $52.24 million during the quarter. Newsmax had a negative return on equity of 81.14% and a negative net margin of 43.17%. Research analysts anticipate that Newsmax Inc. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newsmax

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Newsmax during the third quarter worth $26,000. Osterweis Capital Management Inc. purchased a new stake in Newsmax in the 2nd quarter worth $32,000. Smartleaf Asset Management LLC bought a new position in shares of Newsmax during the 4th quarter valued at about $32,000. Russell Investments Group Ltd. boosted its holdings in shares of Newsmax by 559.0% during the 4th quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock valued at $47,000 after purchasing an additional 5,171 shares during the last quarter. Finally, GS Investments Inc. purchased a new position in shares of Newsmax during the third quarter valued at about $58,000.

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.