Newsmax (NYSE:NMAX) Rating Lowered to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Newsmax (NYSE:NMAX) from a hold rating to a sell rating in a report published on Friday.

NMAX has been the topic of a number of other reports. Maxim Group started coverage on shares of Newsmax in a research note on Thursday, July 24th. They set a “buy” rating and a $20.00 target price on the stock. Zacks Research raised shares of Newsmax to a “hold” rating in a research report on Friday, August 22nd. Noble Financial initiated coverage on shares of Newsmax in a research report on Thursday, August 21st. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Newsmax in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.50.

Newsmax Stock Performance

Shares of NYSE NMAX opened at $12.71 on Friday. The company has a fifty day moving average of $13.10. Newsmax has a 12-month low of $11.40 and a 12-month high of $265.00.

Newsmax (NYSE:NMAX) last released its earnings results on Tuesday, August 19th. The company reported ($0.59) EPS for the quarter. The company had revenue of $46.44 million during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Institutional Trading of Newsmax

Institutional investors and hedge funds have recently made changes to their positions in the company. Arkansas Financial Group Inc. purchased a new position in Newsmax during the 2nd quarter worth approximately $327,000. North Star Investment Management Corp. acquired a new position in shares of Newsmax in the 2nd quarter valued at $51,000. Wolff Wiese Magana LLC purchased a new stake in Newsmax in the 2nd quarter valued at $92,000. West Oak Capital LLC purchased a new stake in Newsmax in the 2nd quarter valued at $30,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in Newsmax during the 2nd quarter worth $32,000.

About Newsmax

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”).