Short Interest in Cineverse Corp. (NASDAQ:CNVS) Grows By 44.3%

Cineverse Corp. (NASDAQ:CNVS) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 192,800 shares, a growth of 44.3% from the August 31st total of 133,600 shares. Based on an average daily volume of 60,400 shares, the short-interest ratio is presently 3.2 days.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $9.00 price target on shares of Cineverse in a research note on Tuesday, July 2nd.

Cineverse Price Performance

NASDAQ CNVS traded up $0.04 during trading hours on Friday, reaching $1.10. 100,496 shares of the company’s stock traded hands, compared to its average volume of 268,733. Cineverse has a 52-week low of $0.72 and a 52-week high of $3.93. The firm has a 50-day simple moving average of $0.83 and a 200 day simple moving average of $0.95. The firm has a market cap of $17.28 million, a PE ratio of -0.64 and a beta of 1.68.

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

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.