Wall Street Zen Downgrades Cineverse (NASDAQ:CNVS) to Sell

Cineverse (NASDAQ:CNVS) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other research analysts have also commented on CNVS. UBS Group set a $9.00 price target on shares of Cineverse in a report on Friday. Benchmark cut their price objective on shares of Cineverse from $10.00 to $9.00 and set a “speculative buy” rating on the stock in a research report on Friday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Cineverse in a research report on Friday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.00.

Cineverse Stock Performance

NASDAQ CNVS opened at $3.19 on Friday. Cineverse has a one year low of $2.13 and a one year high of $7.39. The company has a 50-day simple moving average of $3.72 and a 200-day simple moving average of $4.11. The firm has a market capitalization of $60.99 million, a PE ratio of 39.88 and a beta of 1.50.

Cineverse (NASDAQ:CNVS) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.09). Cineverse had a net margin of 3.89% and a return on equity of 9.98%. The business had revenue of $12.74 million during the quarter, compared to analyst estimates of $10.18 million.

Institutional Trading of Cineverse

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in shares of Cineverse by 193.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 52,783 shares of the company’s stock worth $167,000 after buying an additional 34,783 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Cineverse during the 1st quarter worth about $122,000. Jump Financial LLC bought a new stake in shares of Cineverse during the 1st quarter worth about $37,000. Essex Investment Management Co. LLC bought a new stake in shares of Cineverse during the 1st quarter worth about $72,000. Finally, Naviter Wealth LLC bought a new stake in shares of Cineverse during the 1st quarter worth about $33,000. 8.19% of the stock is currently owned by institutional investors.

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.