Cineverse Corp. (NASDAQ:CNVS - Get Free Report)'s share price was down 4.3% during mid-day trading on Wednesday . The stock traded as low as $3.25 and last traded at $3.30. Approximately 201,742 shares changed hands during trading, a decline of 31% from the average daily volume of 293,978 shares. The stock had previously closed at $3.45.
Analyst Ratings Changes
A number of brokerages have recently commented on CNVS. Alliance Global Partners upped their price target 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 target price on Cineverse from $9.00 to $10.00 and gave the company a "speculative buy" rating in a research note on Friday, November 15th.
Get Our Latest Research Report on Cineverse
Cineverse Stock Performance
The firm has a market cap of $54.13 million, a P/E ratio of -2.12 and a beta of 1.63. The business has a 50-day simple moving average of $2.96 and a 200 day simple moving average of $1.60.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Cineverse stock. Corsair Capital Management L.P. grew its holdings in Cineverse Corp. (NASDAQ:CNVS - Free Report) by 86.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,159 shares of the company's stock after purchasing an additional 286,507 shares during the period. Corsair Capital Management L.P. owned about 3.93% of Cineverse worth $604,000 as of its most recent SEC filing. Institutional investors own 8.19% of the company's stock.
About Cineverse
(
Get Free Report)
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.
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