Cineverse (NASDAQ:CNVS) Announces Quarterly Earnings Results

Cineverse (NASDAQ:CNVS) announced its quarterly earnings data on Monday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.15, Zacks reports. Cineverse had a negative return on equity of 24.65% and a negative net margin of 18.84%. The firm had revenue of $9.86 million for the quarter.

Cineverse Stock Performance

NASDAQ CNVS traded down $0.00 on Wednesday, reaching $0.79. 41,661 shares of the stock traded hands, compared to its average volume of 364,823. The firm’s fifty day simple moving average is $0.90 and its 200 day simple moving average is $1.21. Cineverse has a 12 month low of $0.78 and a 12 month high of $3.93.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “speculative buy” rating and set a $9.00 price target on shares of Cineverse in a research report on Tuesday.

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.