Newsmax Inc.’s (NYSE:NMAX) Lock-Up Period Set To Expire on September 29th

Newsmax’s (NYSE:NMAX) lock-up period will end on Monday, September 29th. Newsmax had issued 7,500,000 shares in its IPO on March 31st. The total size of the offering was $75,000,000 based on an initial share price of $10.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NMAX. Noble Financial began coverage on Newsmax in a research report on Thursday, August 21st. They issued an “outperform” rating and a $23.00 price target on the stock. Maxim Group initiated coverage on Newsmax in a research report on Thursday, July 24th. They set a “buy” rating and a $20.00 target price on the stock. Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Zacks Research raised Newsmax to a “hold” rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Newsmax Price Performance

NMAX stock opened at $13.12 on Wednesday. Newsmax has a 52 week low of $11.40 and a 52 week high of $265.00. The business’s fifty day moving average price is $13.37.

Newsmax (NYSE:NMAX) last announced its quarterly 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 during the quarter. Newsmax has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Newsmax

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMAX. Hollencrest Capital Management purchased a new position in Newsmax in the 2nd quarter valued at about $25,000. West Oak Capital LLC bought a new position in Newsmax in the second quarter worth about $30,000. SOA Wealth Advisors LLC. bought a new position in Newsmax in the second quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Newsmax in the second quarter valued at approximately $32,000. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Newsmax in the second quarter valued at approximately $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”).