Cineverse (NASDAQ:CNVS) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• Cineverse's stock has been reissued a "sell (D+)" rating by Weiss Ratings after analysts revised their expectations.
• The company's quarterly earnings report showed a loss of ($0.21) EPS, missing analysts' expectations, despite revenue surpassing estimates at $12.74 million.
• Institutional investors have been active, with Founders Financial Securities LLC and Osaic Holdings Inc. increasing their stakes significantly in recent quarters.

Cineverse (NASDAQ:CNVS - Get Free Report)'s stock had its "sell (d+)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on CNVS. Benchmark reduced their price objective on shares of Cineverse from $10.00 to $9.00 and set a "speculative buy" rating for the company in a report on Friday. UBS Group set a $9.00 price objective on shares of Cineverse in a report on Friday. Finally, Wall Street Zen lowered shares of Cineverse from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $9.00.

Cineverse Price Performance

Shares of Cineverse stock remained flat at $3.19 during trading hours on Friday. 63,668 shares of the company's stock were exchanged, compared to its average volume of 106,557. The stock has a market cap of $60.99 million, a P/E ratio of 39.88 and a beta of 1.50. The business has a 50 day simple moving average of $3.72 and a two-hundred day simple moving average of $4.09. Cineverse has a 12-month low of $2.13 and a 12-month high of $7.39.

Cineverse (NASDAQ:CNVS - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.09). The business had revenue of $12.74 million for the quarter, compared to analyst estimates of $10.18 million. Cineverse had a net margin of 3.89% and a return on equity of 9.98%.

Institutional Trading of Cineverse

A number of large investors have recently added to or reduced their stakes in the stock. Founders Financial Securities LLC increased its holdings in Cineverse by 38.5% during the third quarter. Founders Financial Securities LLC now owns 18,000 shares of the company's stock worth $60,000 after buying an additional 5,000 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Cineverse by 61.3% during the second quarter. Osaic Holdings Inc. now owns 22,902 shares of the company's stock worth $109,000 after buying an additional 8,700 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Cineverse during the second quarter worth about $48,000. Naviter Wealth LLC purchased a new stake in Cineverse during the first quarter worth about $33,000. Finally, Jump Financial LLC purchased a new stake in Cineverse during the first quarter worth about $37,000. Hedge funds and other institutional investors 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.

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