Cineverse (NASDAQ:CNVS) Posts Earnings Results

Cineverse (NASDAQ:CNVS) announced its earnings results on Thursday. The company reported $0.34 earnings per share for the quarter, Zacks reports. Cineverse had a negative return on equity of 25.87% and a negative net margin of 48.58%.

Cineverse Price Performance

Shares of CNVS traded down $0.12 on Thursday, reaching $4.48. 318,077 shares of the stock traded hands, compared to its average volume of 124,328. The firm has a market cap of $71.10 million, a price-to-earnings ratio of -2.78 and a beta of 1.63. Cineverse has a 12 month low of $0.71 and a 12 month high of $4.89. The stock’s 50-day moving average price is $3.74 and its 200-day moving average price is $2.41.

Wall Street Analysts Forecast Growth

CNVS has been the topic of a number of research reports. Alliance Global Partners boosted their target price on shares of Cineverse from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Benchmark boosted their price objective on shares of Cineverse from $9.00 to $10.00 and gave the stock a “speculative buy” rating in a report on Friday, November 15th.

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.