Cineverse (NASDAQ:CNVS) Given New $10.00 Price Target at Benchmark

Cineverse (NASDAQ:CNVS) had its price target upped by stock analysts at Benchmark from $9.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “speculative buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 284.62% from the stock’s current price.

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

Cineverse Price Performance

Shares of NASDAQ:CNVS opened at $2.60 on Friday. The company’s 50 day simple moving average is $1.60 and its 200 day simple moving average is $1.12. Cineverse has a 1 year low of $0.71 and a 1 year high of $3.93. The stock has a market capitalization of $40.85 million, a price-to-earnings ratio of -1.67 and a beta of 1.47.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Cineverse had a negative return on equity of 19.19% and a negative net margin of 46.23%. The business had revenue of $9.13 million for the quarter.

Institutional Investors Weigh In On Cineverse

A hedge fund recently raised its stake in Cineverse stock. Corsair Capital Management L.P. grew its position in shares of Cineverse Corp. (NASDAQ:CNVS) by 86.6% during the third quarter, according to its most recent disclosure 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 quarter. Corsair Capital Management L.P. owned approximately 3.93% of Cineverse worth $604,000 as of its most recent SEC filing. 8.19% of the stock is owned by hedge funds and other 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.