Newsmax (NYSE:NMAX) Upgraded at Wall Street Zen

Newsmax (NYSE:NMAX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other brokerages also recently weighed in on NMAX. Zacks Research upgraded shares of Newsmax to a “hold” rating in a research report on Friday, August 22nd. Noble Financial began coverage on shares of Newsmax in a research report on Thursday, August 21st. They issued an “outperform” rating and a $23.00 price objective for the company. Finally, Maxim Group began coverage on shares of Newsmax in a research report on Thursday, July 24th. They issued a “buy” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Newsmax Price Performance

NYSE NMAX opened at $12.81 on Friday. The firm’s fifty day simple moving average is $13.64. Newsmax has a 1 year low of $11.40 and a 1 year high of $265.00.

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

Institutional Trading of Newsmax

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Newsmax by 910,880.0% during the 2nd quarter. Bank of America Corp DE now owns 136,647 shares of the company’s stock valued at $2,067,000 after acquiring an additional 136,632 shares in the last quarter. Denver PWM LLC purchased a new stake in Newsmax during the 2nd quarter valued at about $1,630,000. HRT Financial LP grew its stake in shares of Newsmax by 4,150.9% in the 2nd quarter. HRT Financial LP now owns 103,934 shares of the company’s stock valued at $1,572,000 after buying an additional 101,489 shares during the period. Geode Capital Management LLC purchased a new stake in shares of Newsmax in the 2nd quarter valued at approximately $1,425,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Newsmax in the 2nd quarter valued at approximately $1,279,000.

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”).