Cineverse Corp. (NASDAQ:CNVS) Short Interest Update

Cineverse Corp. (NASDAQ:CNVS) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 889,859 shares, an increase of 71.5% from the January 29th total of 518,768 shares. Based on an average trading volume of 465,570 shares, the short-interest ratio is currently 1.9 days. Approximately 5.2% of the company’s stock are sold short. Approximately 5.2% of the company’s stock are sold short. Based on an average trading volume of 465,570 shares, the short-interest ratio is currently 1.9 days.

Insiders Place Their Bets

In other Cineverse news, insider Gary S. Loffredo acquired 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were purchased at an average price of $2.00 per share, with a total value of $60,000.00. Following the completion of the transaction, the insider owned 200,337 shares in the company, valued at $400,674. The trade was a 17.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Antonio Huidor purchased 37,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $2.00 per share, for a total transaction of $75,000.00. Following the purchase, the insider owned 190,061 shares in the company, valued at $380,122. The trade was a 24.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 187,500 shares of company stock valued at $375,000 in the last three months. Company insiders own 13.30% of the company’s stock.

Institutional Investors Weigh In On Cineverse

Several large investors have recently made changes to their positions in CNVS. StoneX Group Inc. bought a new position in Cineverse in the 4th quarter worth approximately $30,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Cineverse in the 3rd quarter valued at $42,000. Kathmere Capital Management LLC acquired a new stake in shares of Cineverse in the 3rd quarter valued at $44,000. Hillsdale Investment Management Inc. bought a new stake in shares of Cineverse during the second quarter worth $48,000. Finally, Prelude Capital Management LLC lifted its stake in shares of Cineverse by 31.1% during the third quarter. Prelude Capital Management LLC now owns 17,037 shares of the company’s stock valued at $57,000 after acquiring an additional 4,037 shares during the period. Institutional investors own 8.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Benchmark reiterated a “speculative buy” rating on shares of Cineverse in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cineverse in a research report on Monday, December 29th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Cineverse in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

Cineverse Trading Down 4.8%

NASDAQ CNVS traded down $0.15 on Friday, reaching $2.96. The company’s stock had a trading volume of 100,270 shares, compared to its average volume of 509,210. Cineverse has a 52 week low of $1.77 and a 52 week high of $7.39. The business has a 50-day moving average price of $2.25 and a 200 day moving average price of $2.94. The firm has a market cap of $63.03 million, a PE ratio of -5.58 and a beta of 1.66.

Cineverse (NASDAQ:CNVS) last posted its earnings results on Tuesday, February 17th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Cineverse had a negative return on equity of 27.40% and a negative net margin of 16.67%.The company had revenue of $16.29 million for the quarter, compared to the consensus estimate of $20.00 million.

Cineverse Company Profile

Cineverse (NASDAQ: CNVS), formerly known as Cinedigm, is a digital entertainment company that acquires, produces and distributes film and television content across a range of platforms. Through its streaming division, the company offers a portfolio of direct-to-consumer channels and apps—spanning genres such as horror, faith and family, documentaries and classic cinema—on both AVOD (ad-supported) and FAST (free ad-supported television) services. Cineverse also licenses its curated libraries to third-party streaming platforms, pay-TV operators and retail video-on-demand providers.

In addition to its consumer-facing streaming business, Cineverse operates a digital cinema network that supplies hardware, software and content delivery solutions to cinema exhibitors throughout North America.