Newsmax (NYSE:NMAX) Hits New 12-Month Low – Time to Sell?

Newsmax Inc. (NYSE:NMAX)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $7.24 and last traded at $7.1950, with a volume of 258809 shares trading hands. The stock had previously closed at $7.48.

Analyst Ratings Changes

Several analysts have recently issued reports on NMAX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a report on Monday, December 29th. Wall Street Zen upgraded 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Newsmax has a consensus rating of “Hold” and a consensus price target of $21.50.

Newsmax Trading Down 0.2%

The company has a fifty day moving average of $8.22 and a two-hundred day moving average of $10.77.

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 for the quarter. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NMAX. UBS Group AG grew its position in Newsmax by 4,495.3% in the 4th quarter. UBS Group AG now owns 421,342 shares of the company’s stock valued at $3,257,000 after acquiring an additional 412,173 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Newsmax in the 4th quarter valued at about $79,000. Financial Consulate Inc. raised its stake in Newsmax by 50,418.5% in the fourth quarter. Financial Consulate Inc. now owns 13,640 shares of the company’s stock worth $105,000 after buying an additional 13,613 shares in the last quarter. Defender Capital LLC. bought a new position in shares of Newsmax in the 4th quarter worth $211,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Newsmax by 17.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 37,359 shares of the company’s stock worth $293,000 after purchasing an additional 5,567 shares in the last quarter.

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.