Cineverse (NASDAQ:CNVS) Given New $10.00 Price Target at Benchmark

Cineverse (NASDAQ:CNVS) had its price objective boosted by Benchmark from $9.00 to $10.00 in a research note released on Friday morning,Benzinga reports. Benchmark currently has a speculative buy rating on the stock.

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

Cineverse Stock Performance

Shares of CNVS stock traded up $0.60 during mid-day trading on Friday, reaching $3.20. 2,924,167 shares of the company’s stock traded hands, compared to its average volume of 294,880. Cineverse has a 12 month low of $0.71 and a 12 month high of $3.93. The firm has a 50 day moving average price of $1.69 and a two-hundred day moving average price of $1.15. The firm has a market capitalization of $50.26 million, a PE ratio of -1.99 and a beta of 1.47.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cineverse stock. Corsair Capital Management L.P. lifted its stake in Cineverse Corp. (NASDAQ:CNVS) by 86.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 617,159 shares of the company’s stock after buying an additional 286,507 shares during the quarter. Corsair Capital Management L.P. owned approximately 3.93% of Cineverse worth $604,000 at the end of the most recent reporting period. Institutional investors own 8.19% of the company’s stock.

Cineverse Company Profile

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.