Cineverse (NASDAQ:CNVS) Stock Price Up 0.3% – Should You Buy?

Cineverse Corp. (NASDAQ:CNVS)’s share price was up 0.3% during trading on Tuesday . The company traded as high as $3.54 and last traded at $3.43. Approximately 65,680 shares changed hands during trading, a decline of 31% from the average daily volume of 95,347 shares. The stock had previously closed at $3.42.

Wall Street Analyst Weigh In

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

Cineverse Price Performance

The company has a 50 day moving average of $3.56 and a two-hundred day moving average of $1.98. The company has a market capitalization of $54.44 million, a PE ratio of -2.13 and a beta of 1.65.

Institutional Investors Weigh In On Cineverse

An institutional investor recently raised its position in Cineverse stock. Corsair Capital Management L.P. boosted its position in shares of Cineverse Corp. (NASDAQ:CNVS) by 86.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 617,159 shares of the company’s stock after purchasing an additional 286,507 shares during the quarter. Corsair Capital Management L.P. owned about 3.93% of Cineverse worth $604,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.19% of the company’s stock.

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.