Cineverse Corp. (NASDAQ:CNVS - Get Free Report)'s stock price was up 13% during trading on Wednesday . The company traded as high as $4.32 and last traded at $4.26. Approximately 302,179 shares changed hands during mid-day trading, an increase of 241% from the average daily volume of 88,564 shares. The stock had previously closed at $3.77.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on CNVS shares. Benchmark raised their price objective on shares of Cineverse from $9.00 to $10.00 and gave the stock a "speculative buy" rating in a report on Friday, November 15th. Alliance Global Partners raised their price target on Cineverse from $4.00 to $4.50 and gave the company a "buy" rating in a report on Tuesday, October 22nd.
Get Our Latest Analysis on Cineverse
Cineverse Trading Down 5.5 %
The firm has a fifty day simple moving average of $3.68 and a 200-day simple moving average of $2.32. The stock has a market cap of $62.69 million, a price-to-earnings ratio of -2.45 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. raised its stake in shares of Cineverse Corp. (NASDAQ:CNVS - Free Report) by 86.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 about 3.93% of Cineverse worth $604,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.19% of the company's stock.
Cineverse Company Profile
(
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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