Cineverse (NASDAQ:CNVS) Trading Up 0.3% – Here’s What Happened

Cineverse Corp. (NASDAQ:CNVS)’s stock price traded up 0.3% during trading on Tuesday . The company traded as high as $3.54 and last traded at $3.43. 65,680 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 95,347 shares. The stock had previously closed at $3.42.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CNVS shares. Benchmark increased their price target on Cineverse from $9.00 to $10.00 and gave the company a “speculative buy” rating in a report on Friday, November 15th. Alliance Global Partners boosted their price target on Cineverse from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd.

Cineverse Stock Performance

The stock has a fifty day moving average of $3.56 and a 200 day moving average of $1.98. The company has a market capitalization of $54.44 million, a P/E ratio of -2.13 and a beta of 1.65.

Hedge Funds Weigh In On Cineverse

A hedge fund recently bought a new stake in Cineverse stock. Virtu Financial LLC purchased a new position in Cineverse Corp. (NASDAQ:CNVS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,204 shares of the company’s stock, valued at approximately $31,000. Virtu Financial LLC owned approximately 0.20% of Cineverse as of its most recent filing with the Securities and Exchange Commission. 8.19% of the stock is currently owned by hedge funds and other institutional investors.

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.