Cineverse (NASDAQ:CNVS) Releases Earnings Results

Cineverse (NASDAQ:CNVS) released its quarterly earnings data on Thursday. The company reported $0.34 earnings per share for the quarter, Zacks reports. Cineverse had a negative return on equity of 25.87% and a negative net margin of 48.58%.

Cineverse Stock Down 2.6 %

CNVS traded down $0.12 during midday trading on Thursday, hitting $4.48. 329,774 shares of the company were exchanged, compared to its average volume of 126,280. The firm has a market capitalization of $71.10 million, a P/E ratio of -2.78 and a beta of 1.63. The firm’s 50 day moving average price is $3.74 and its 200-day moving average price is $2.41. Cineverse has a 1-year low of $0.71 and a 1-year high of $4.89.

Analyst Ratings Changes

CNVS has been the topic of a number of recent research reports. Benchmark lifted their price target on Cineverse from $9.00 to $10.00 and gave the company a “speculative buy” rating in a research note on Friday, November 15th. Alliance Global Partners lifted their target price on shares of Cineverse from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd.

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.