Cineverse Corp. (NASDAQ:CNVS) Short Interest Update

Cineverse Corp. (NASDAQ:CNVS) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 284,200 shares, a growth of 138.0% from the September 30th total of 119,400 shares. Based on an average daily trading volume, of 159,100 shares, the short-interest ratio is presently 1.8 days.

Cineverse Stock Performance

Shares of CNVS stock traded down $0.13 on Friday, hitting $2.18. The company’s stock had a trading volume of 146,902 shares, compared to its average volume of 277,707. Cineverse has a fifty-two week low of $0.71 and a fifty-two week high of $3.93. The stock’s 50 day moving average is $1.13 and its 200-day moving average is $0.98. The company has a market capitalization of $34.02 million, a PE ratio of -1.26 and a beta of 1.69.

Cineverse (NASDAQ:CNVS) last issued its earnings results on Wednesday, August 14th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The firm had revenue of $9.13 million during the quarter. Cineverse had a negative net margin of 46.23% and a negative return on equity of 19.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on CNVS. Benchmark reissued a “speculative buy” rating and set a $9.00 price objective on shares of Cineverse in a report on Tuesday, July 2nd. Alliance Global Partners boosted their target price on Cineverse from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd.

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.