Short Interest in Newsmax Inc. (NYSE:NMAX) Grows By 41.2%

Newsmax Inc. (NYSE:NMAX) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 3,458,537 shares, a growth of 41.2% from the December 15th total of 2,449,745 shares. Based on an average daily volume of 1,269,357 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.7% of the company’s stock are short sold. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 1,269,357 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NMAX. Armstrong Advisory Group Inc. lifted its holdings in Newsmax by 17.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 9,263 shares of the company’s stock valued at $115,000 after purchasing an additional 1,344 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Newsmax by 139.8% during the 3rd quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock worth $30,000 after buying an additional 1,398 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Newsmax during the 2nd quarter worth about $25,000. West Oak Capital LLC bought a new stake in shares of Newsmax during the 2nd quarter worth about $30,000. Finally, Advisory Services Network LLC acquired a new position in Newsmax in the 3rd quarter valued at about $26,000.

Newsmax Trading Up 2.3%

Shares of NMAX traded up $0.18 during midday trading on Friday, reaching $7.96. The stock had a trading volume of 953,356 shares, compared to its average volume of 1,003,162. The firm has a market cap of $1.03 billion and a PE ratio of -6.86. The firm has a 50 day simple moving average of $8.35 and a 200-day simple moving average of $11.23. Newsmax has a one year low of $7.31 and a one year high of $265.00.

Newsmax (NYSE:NMAX) last issued its earnings results on Thursday, November 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. Newsmax had a negative net margin of 55.99% and a negative return on equity of 255.61%. The business had revenue of $45.27 million during the quarter. The company’s quarterly revenue was up 4.0% on a year-over-year basis.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research report on Monday, December 29th. Wall Street Zen raised Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.50.

Newsmax Company Profile

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.