Cineverse (NASDAQ:CNVS) Receives Speculative Buy Rating from Benchmark

Benchmark reaffirmed their speculative buy rating on shares of Cineverse (NASDAQ:CNVS) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $9.00 target price on the stock.

Cineverse Trading Down 12.0 %

NASDAQ CNVS opened at $0.79 on Tuesday. The company has a market cap of $10.56 million, a price-to-earnings ratio of -0.81 and a beta of 1.68. Cineverse has a 1-year low of $0.78 and a 1-year high of $3.93. The company has a 50 day moving average of $0.90 and a 200-day moving average of $1.21.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings data on Monday, July 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.15. The firm had revenue of $9.86 million during the quarter. Cineverse had a negative return on equity of 24.65% and a negative net margin of 18.84%.

Institutional Investors Weigh In On Cineverse

A hedge fund recently bought a new stake in Cineverse stock. Leavell Investment Management Inc. purchased a new position in shares of Cineverse Corp. (NASDAQ:CNVS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 41,968 shares of the company’s stock, valued at approximately $57,000. Leavell Investment Management Inc. owned 0.33% of Cineverse at the end of the most recent quarter. 8.19% of the stock is owned by institutional investors.

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.