Cineverse (NASDAQ:CNVS) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Cineverse (NASDAQ:CNVS) posted its quarterly earnings results on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.15, Zacks reports. Cineverse had a negative net margin of 18.84% and a negative return on equity of 24.65%. The company had revenue of $9.86 million for the quarter.

Cineverse Stock Performance

Cineverse stock traded down $0.00 during midday trading on Wednesday, reaching $0.79. 41,661 shares of the stock were exchanged, compared to its average volume of 364,823. The company’s fifty day moving average is $0.90 and its 200-day moving average is $1.21. Cineverse has a 52 week low of $0.78 and a 52 week high of $3.93.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “speculative buy” rating and set a $9.00 target price on shares of Cineverse in a report on Tuesday.

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.