Cineverse Corp. (NASDAQ:CNVS) Sees Significant Increase in Short Interest

Cineverse Corp. (NASDAQ:CNVS) was the recipient of a large growth in short interest in the month of 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 days-to-cover ratio is presently 1.8 days.

Cineverse Price Performance

Shares of NASDAQ CNVS opened at $2.18 on Friday. The stock has a market cap of $34.02 million, a PE ratio of -1.26 and a beta of 1.69. Cineverse has a 1 year low of $0.71 and a 1 year high of $3.93. The firm has a fifty day moving average price of $1.13 and a 200-day moving average price of $0.99.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNVS. Benchmark reissued a “speculative buy” rating and issued a $9.00 target price on shares of Cineverse in a report on Tuesday, July 2nd. Alliance Global Partners increased their price objective on shares of Cineverse from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday.

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.