Benchmark Issues Positive Forecast for Cineverse (NASDAQ:CNVS) Stock Price

Cineverse (NASDAQ:CNVS) had its target price hoisted by Benchmark from $9.00 to $10.00 in a research report released on Friday,Benzinga reports. They currently have a speculative buy rating on the stock.

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

Cineverse Price Performance

Shares of Cineverse stock opened at $3.54 on Friday. Cineverse has a 1 year low of $0.71 and a 1 year high of $3.96. The stock has a market cap of $55.61 million, a price-to-earnings ratio of -2.27 and a beta of 1.47. The firm’s 50-day moving average is $1.69 and its two-hundred day moving average is $1.16.

Hedge Funds Weigh In On Cineverse

A hedge fund recently raised its stake in Cineverse stock. Corsair Capital Management L.P. increased its position in shares of Cineverse Corp. (NASDAQ:CNVS) by 86.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 617,159 shares of the company’s stock after acquiring an additional 286,507 shares during the quarter. Corsair Capital Management L.P. owned about 3.93% of Cineverse worth $604,000 as of its most recent SEC filing. Institutional investors 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.