Cineverse Corp. (NASDAQ:CNVS) Short Interest Up 15.0% in July

Cineverse Corp. (NASDAQ:CNVS) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 175,500 shares, a growth of 15.0% from the June 30th total of 152,600 shares. Based on an average trading volume of 93,100 shares, the days-to-cover ratio is presently 1.9 days.

Cineverse Stock Performance

Shares of NASDAQ CNVS opened at $0.80 on Monday. Cineverse has a 52-week low of $0.72 and a 52-week high of $3.93. The company’s 50 day moving average price is $0.89 and its 200-day moving average price is $1.16.

Cineverse (NASDAQ:CNVS) last released its earnings results on Monday, July 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.15. Cineverse had a negative net margin of 43.57% and a negative return on equity of 18.02%. The company had revenue of $9.86 million for the quarter.

Analyst Ratings Changes

Separately, Benchmark restated a “speculative buy” rating and issued a $9.00 price target on shares of Cineverse in a research report on Tuesday, July 2nd.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cineverse stock. Leavell Investment Management Inc. bought a new stake in shares of Cineverse Corp. (NASDAQ:CNVS) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 41,968 shares of the company’s stock, valued at approximately $57,000. Leavell Investment Management Inc. owned 0.33% of Cineverse as of its most recent SEC filing. 8.19% of the stock is currently owned by hedge funds and other institutional investors.

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.