Cineverse (NASDAQ:CNVS) Releases Earnings Results

Cineverse (NASDAQ:CNVS) posted its earnings results on Thursday. The company reported $0.34 EPS for the quarter, Zacks reports. Cineverse had a negative return on equity of 25.87% and a negative net margin of 48.58%.

Cineverse Stock Down 2.6 %

CNVS stock traded down $0.12 during midday trading on Thursday, reaching $4.48. 318,077 shares of the company’s stock traded hands, compared to its average volume of 124,328. The company has a 50-day simple moving average of $3.74 and a two-hundred day simple moving average of $2.41. Cineverse has a 1-year low of $0.71 and a 1-year high of $4.89. The company has a market cap of $71.10 million, a price-to-earnings ratio of -2.78 and a beta of 1.63.

Analyst Ratings Changes

CNVS has been the subject of a number of analyst reports. Alliance Global Partners lifted their price objective on Cineverse from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Benchmark lifted their price target on shares of Cineverse from $9.00 to $10.00 and gave the company a “speculative buy” rating in a report on Friday, November 15th.

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.