Cineverse (NASDAQ:CNVS) Trading Down 1.8%

Cineverse Corp. (NASDAQ:CNVS)’s stock price fell 1.8% during trading on Wednesday . The stock traded as low as $0.80 and last traded at $0.85. 21,979 shares changed hands during trading, a decline of 93% from the average session volume of 333,328 shares. The stock had previously closed at $0.87.

Analyst Ratings Changes

Separately, Benchmark reissued a “speculative buy” rating and set a $9.00 price objective on shares of Cineverse in a report on Tuesday, July 2nd.

Cineverse Stock Down 2.7 %

The stock has a market capitalization of $12.46 million, a PE ratio of -0.46 and a beta of 1.68. The firm has a 50 day moving average price of $0.89 and a 200-day moving average price of $1.17.

Cineverse (NASDAQ:CNVS) last announced its quarterly earnings results on Monday, July 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.15. The company had revenue of $9.86 million for the quarter. Cineverse had a negative return on equity of 18.02% and a negative net margin of 43.57%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cineverse stock. Leavell Investment Management Inc. acquired a new position in shares of Cineverse Corp. (NASDAQ:CNVS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.19% of the company’s stock.

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.