Newsmax Inc. (NYSE:NMAX) Short Interest Update

Newsmax Inc. (NYSE:NMAX) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 4,355,002 shares, a growth of 19.7% from the January 15th total of 3,638,495 shares. Based on an average daily volume of 1,048,185 shares, the short-interest ratio is presently 4.2 days. Currently, 3.4% of the company’s shares are sold short. Currently, 3.4% of the company’s shares are sold short. Based on an average daily volume of 1,048,185 shares, the short-interest ratio is presently 4.2 days.

Institutional Investors Weigh In On Newsmax

Hedge funds have recently bought and sold shares of the stock. Armstrong Advisory Group Inc. grew its position in shares of Newsmax by 17.0% during the third quarter. Armstrong Advisory Group Inc. now owns 9,263 shares of the company’s stock worth $115,000 after buying an additional 1,344 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Newsmax by 139.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 2,398 shares of the company’s stock valued at $30,000 after purchasing an additional 1,398 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Newsmax during the 2nd quarter worth $25,000. Foundations Investment Advisors LLC lifted its position in shares of Newsmax by 15.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,048 shares of the company’s stock worth $101,000 after purchasing an additional 1,711 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Newsmax during the third quarter worth $26,000.

Newsmax Stock Up 1.7%

Newsmax stock traded up $0.09 during mid-day trading on Tuesday, reaching $5.49. 887,775 shares of the company’s stock were exchanged, compared to its average volume of 1,085,828. The company has a fifty day moving average of $7.72 and a 200-day moving average of $10.06. The company has a market cap of $708.92 million and a P/E ratio of -4.73. Newsmax has a twelve month low of $5.18 and a twelve month high of $265.00.

Analysts Set New Price Targets

NMAX has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Newsmax in a research report on Monday, December 29th. Wall Street Zen raised shares of Newsmax from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Newsmax has a consensus rating of “Hold” and a consensus 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.