Newsmax (NYSE:NMAX) Stock Price Up 10% – Should You Buy?

Newsmax Inc. (NYSE:NMAX)’s share price was up 10% during trading on Wednesday . The company traded as high as $7.28 and last traded at $7.27. Approximately 321,282 shares changed hands during trading, a decline of 66% from the average daily volume of 950,668 shares. The stock had previously closed at $6.61.

Analysts Set New Price Targets

NMAX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Newsmax in a research report on Monday, December 29th. Wall Street Zen upgraded Newsmax from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Newsmax presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Newsmax Stock Performance

The firm has a market cap of $928.44 million and a PE ratio of -6.20. The firm’s 50-day moving average price is $6.96 and its two-hundred day moving average price is $9.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in shares of Newsmax during the second quarter worth about $25,000. Advisory Services Network LLC acquired a new position in Newsmax during the third quarter worth $26,000. Osterweis Capital Management Inc. purchased a new position in Newsmax in the second quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Newsmax during the 2nd quarter worth $32,000. Finally, Harbor Investment Advisory LLC raised 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.

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.