Cineverse (NASDAQ:CNVS) Given “Speculative Buy” Rating at Benchmark

Cineverse (NASDAQ:CNVS)‘s stock had its “speculative buy” rating restated by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $9.00 target price on the stock.

Cineverse Stock Down 5.7 %

Shares of CNVS stock traded down $0.05 during trading hours on Tuesday, hitting $0.85. 17,782 shares of the company’s stock traded hands, compared to its average volume of 365,805. The stock’s fifty day simple moving average is $0.90 and its two-hundred day simple moving average is $1.21. Cineverse has a 12-month low of $0.78 and a 12-month high of $3.93. The stock has a market cap of $11.31 million, a price-to-earnings ratio of -0.86 and a beta of 1.68.

Cineverse (NASDAQ:CNVS) last released its earnings results on Monday, July 1st. The company reported ($0.06) earnings per share (EPS) for the quarter. Cineverse had a negative net margin of 18.84% and a negative return on equity of 24.65%. The business had revenue of $9.86 million for the quarter.

Hedge Funds Weigh In On Cineverse

A hedge fund recently bought a new stake in Cineverse stock. Leavell Investment Management Inc. acquired a new position in Cineverse Corp. (NASDAQ:CNVS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 41,968 shares of the company’s stock, valued at approximately $57,000. Leavell Investment Management Inc. owned about 0.33% of Cineverse as of its most recent SEC filing. 8.19% of the stock is owned by institutional investors and hedge funds.

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.