Newsmax (NYSE:NMAX) Shares Up 6.3% – Still a Buy?

Shares of Newsmax Inc. (NYSE:NMAX) rose 6.3% during trading on Tuesday . The company traded as high as $8.91 and last traded at $9.1020. Approximately 202,649 shares traded hands during trading, a decline of 85% from the average daily volume of 1,375,818 shares. The stock had previously closed at $8.56.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NMAX shares. Wall Street Zen upgraded Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a report on Monday. Noble Financial began coverage on shares of Newsmax in a report on Thursday, August 21st. They set an “outperform” rating and a $23.00 target price for the company. Finally, Zacks Research upgraded Newsmax to a “hold” rating in a report on Friday, August 22nd. 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. According to MarketBeat.com, Newsmax presently has a consensus rating of “Hold” and an average target price of $21.50.

Newsmax Stock Up 3.8%

The firm has a fifty day simple moving average of $9.66 and a 200-day simple moving average of $12.57.

Newsmax (NYSE:NMAX) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. Newsmax had a negative return on equity of 255.61% and a negative net margin of 55.99%.The business had revenue of $45.27 million for the quarter. Newsmax’s quarterly revenue was up 4.0% compared to the same quarter last year.

Institutional Investors Weigh In On Newsmax

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management purchased a new stake in shares of Newsmax in the second quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Newsmax in the third quarter worth about $26,000. West Oak Capital LLC purchased a new position in shares of Newsmax during the second quarter valued at $30,000. Harbor Investment Advisory LLC raised its stake in Newsmax by 139.8% in the third 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 in the last quarter. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of Newsmax during the second quarter valued at about $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”).