Newsmax (NYSE:NMAX) Stock Price Up 11.7% – Should You Buy?

Newsmax Inc. (NYSE:NMAX) shares rose 11.7% during trading on Thursday . The company traded as high as $8.57 and last traded at $8.7040. Approximately 1,514,063 shares changed hands during trading, an increase of 8% from the average daily volume of 1,405,231 shares. The stock had previously closed at $7.79.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Newsmax in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.50.

Newsmax Stock Up 12.1%

The firm’s 50-day simple moving average is $6.53 and its 200-day simple moving average is $7.21. The firm has a market capitalization of $1.13 billion, a PE ratio of -13.23 and a beta of 2.25.

Newsmax (NYSE:NMAX) last issued its quarterly earnings data on Thursday, March 26th. The company reported $0.04 EPS for the quarter. The firm 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%. On average, equities research analysts forecast that Newsmax Inc. will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Newsmax

A number of institutional investors have recently bought and sold shares of NMAX. UBS Group AG increased its holdings 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. Fisher Asset Management LLC bought a new stake in Newsmax in the 3rd quarter valued at $135,000. Creative Financial Designs Inc. ADV increased its holdings in Newsmax by 705.2% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,216 shares of the company’s stock valued at $77,000 after acquiring an additional 5,444 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in Newsmax in the 3rd quarter valued at $503,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Newsmax during the third quarter valued at $508,000.

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.