Cineverse (NASDAQ:CNVS) Price Target Raised to $10.00 at Benchmark

Cineverse (NASDAQ:CNVS) had its price objective hoisted by Benchmark from $9.00 to $10.00 in a research report report published on Friday morning,Benzinga reports. They currently have a speculative buy rating on the stock.

Separately, Alliance Global Partners increased their price objective on Cineverse from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd.

Cineverse Price Performance

Cineverse stock traded up $0.60 during mid-day trading on Friday, reaching $3.20. The stock had a trading volume of 2,924,167 shares, compared to its average volume of 294,880. Cineverse has a one year low of $0.71 and a one year high of $3.93. The company has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $1.15. The company has a market capitalization of $50.26 million, a price-to-earnings ratio of -1.99 and a beta of 1.47.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Cineverse had a negative net margin of 46.23% and a negative return on equity of 19.19%. The firm had revenue of $9.13 million for the quarter.

Institutional Investors Weigh In On Cineverse

An institutional investor recently raised its position in Cineverse stock. Corsair Capital Management L.P. increased its position in Cineverse Corp. (NASDAQ:CNVS) by 86.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 617,159 shares of the company’s stock after acquiring an additional 286,507 shares during the period. Corsair Capital Management L.P. owned about 3.93% of Cineverse worth $604,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.19% of the company’s stock.

About Cineverse

Cineverse Corp. operates as a streaming technology and entertainment company. The company operates in two segments, Cinema Equipment, and Content and Entertainment. It owns and operates streaming channels, through its proprietary technology platform. The company also delivers curated content through subscription video on demand (SVOD), dedicated ad-supported (AVOD), and ad-supported streaming linear (FAST) channels, as well as social video streaming services and audio podcasts; operates OTT streaming entertainment channels; and offers monitoring, billing, collection, and verification services.