Newsmax (NYSE:NMAX) Stock Price Down 0.5% – What’s Next?

Shares of Newsmax Inc. (NYSE:NMAX) fell 0.5% on Tuesday . The company traded as low as $8.03 and last traded at $8.1450. 521,178 shares were traded during trading, a decline of 49% from the average session volume of 1,023,716 shares. The stock had previously closed at $8.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Newsmax in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.50.

Newsmax Stock Down 0.5%

The business has a 50 day moving average price of $8.11 and a 200 day moving average price of $7.14. The stock has a market cap of $1.05 billion, a P/E ratio of -12.34 and a beta of 2.65.

Hedge Funds Weigh In On Newsmax

Several hedge funds have recently bought and sold shares of NMAX. Advisory Services Network LLC bought a new stake in shares of Newsmax during the third quarter worth $26,000. Osterweis Capital Management Inc. bought a new position in shares of Newsmax in the second quarter worth about $32,000. Smartleaf Asset Management LLC purchased a new position in Newsmax in the 4th quarter worth about $32,000. Russell Investments Group Ltd. increased its stake in Newsmax by 559.0% in the 4th quarter. Russell Investments Group Ltd. now owns 6,096 shares of the company’s stock worth $47,000 after buying an additional 5,171 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Newsmax during the 2nd quarter valued at about $63,000.

About Newsmax

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.