Cineverse (NASDAQ:CNVS) Shares Down 4.3% – Should You Sell?

Cineverse Corp. (NASDAQ:CNVS)’s share price was down 4.3% on Wednesday . The company traded as low as $3.25 and last traded at $3.30. Approximately 201,742 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 293,978 shares. The stock had previously closed at $3.45.

Analysts Set New Price Targets

A number of research analysts have commented on the company. 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. Benchmark boosted their price objective on Cineverse from $9.00 to $10.00 and gave the stock a “speculative buy” rating in a report on Friday, November 15th.

Cineverse Trading Down 4.3 %

The business’s fifty day simple moving average is $2.96 and its 200 day simple moving average is $1.60. The stock has a market cap of $52.38 million, a price-to-earnings ratio of -2.05 and a beta of 1.63.

Institutional Investors Weigh In On Cineverse

An institutional investor recently raised its position in Cineverse stock. Corsair Capital Management L.P. lifted its position in Cineverse Corp. (NASDAQ:CNVS) by 86.6% during the third quarter, according to its most recent 13F filing 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 approximately 3.93% of Cineverse worth $604,000 at the end of the most recent quarter. 8.19% of the stock is owned by institutional investors and hedge funds.

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.