Cineverse (NASDAQ:CNVS) Lowered to Hold Rating by Wall Street Zen

Cineverse (NASDAQ:CNVS) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Cineverse Price Performance

NASDAQ CNVS opened at $5.10 on Friday. The firm’s 50-day moving average is $5.32 and its two-hundred day moving average is $4.07. Cineverse has a 12 month low of $0.71 and a 12 month high of $7.39. The stock has a market capitalization of $87.26 million, a P/E ratio of 63.75 and a beta of 1.47.

Cineverse (NASDAQ:CNVS) last posted its earnings results on Thursday, August 14th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.09). Cineverse had a net margin of 3.89% and a return on equity of 10.12%. The company had revenue of $12.74 million during the quarter, compared to analyst estimates of $10.18 million.

Institutional Trading of Cineverse

Hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Cineverse during the second quarter worth about $48,000. Naviter Wealth LLC acquired a new stake in shares of Cineverse during the first quarter worth about $33,000. Jump Financial LLC acquired a new stake in shares of Cineverse during the first quarter worth about $37,000. Millennium Management LLC acquired a new stake in shares of Cineverse during the fourth quarter worth about $56,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Cineverse during the second quarter worth about $78,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

About Cineverse

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.