Shares of Newsmax Inc. (NYSE:NMAX – Get Free Report) traded down 7.3% during mid-day trading on Monday . The company traded as low as $7.22 and last traded at $7.2110. 160,560 shares traded hands during trading, a decline of 89% from the average session volume of 1,416,482 shares. The stock had previously closed at $7.78.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Newsmax in a research report on Friday, March 27th. Two equities 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.com, Newsmax currently has a consensus rating of “Hold” and an average price target of $21.50.
Get Our Latest Analysis on NMAX
Newsmax Stock Down 8.5%
Newsmax (NYSE:NMAX – Get Free Report) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $52.24 million during the quarter. Newsmax had a negative net margin of 43.17% and a negative return on equity of 81.14%. Analysts predict that Newsmax Inc. will post -0.16 EPS for the current year.
Institutional Trading of Newsmax
Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in Newsmax in the third quarter worth $26,000. Osterweis Capital Management Inc. purchased a new stake in shares of Newsmax during the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC purchased a new stake in shares of Newsmax during the 4th quarter valued at $32,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Newsmax during the 2nd quarter worth $63,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Newsmax during the 2nd quarter worth $76,000.
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.
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