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

Cineverse (NASDAQ:CNVS) had its price target raised by Benchmark from $9.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm currently has a speculative buy rating on the stock.

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

Cineverse Price Performance

Shares of NASDAQ:CNVS opened at $3.54 on Friday. The firm has a market capitalization of $55.61 million, a PE ratio of -2.27 and a beta of 1.47. The business has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $1.16. Cineverse has a 1 year low of $0.71 and a 1 year high of $3.96.

Institutional Investors Weigh In On Cineverse

A hedge fund recently raised its stake in Cineverse stock. Corsair Capital Management L.P. grew its stake in shares of Cineverse Corp. (NASDAQ:CNVS) by 86.6% in 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 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 quarter. Hedge funds and other 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.