Cinedigm Corp. (CIDM) Shares Down 4.2%
Shares of Cinedigm Corp. (NASDAQ:CIDM) were down 4.2% during mid-day trading on Friday . The company traded as low as $1.90 and last traded at $2.03, with a volume of 210,947 shares trading hands. The stock had previously closed at $2.12.
Separately, Zacks Investment Research raised Cinedigm Corp. from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research report on Wednesday.
The company’s market capitalization is $15.76 million. The firm has a 50 day moving average price of $1.34 and a 200 day moving average price of $2.06.
Cinedigm Corp. (NASDAQ:CIDM) last posted its quarterly earnings results on Thursday, July 14th. The company reported ($0.95) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.10. The company earned $28.20 million during the quarter, compared to analyst estimates of $23.20 million. During the same period last year, the company earned ($0.60) EPS. Equities analysts expect that Cinedigm Corp. will post ($3.05) EPS for the current fiscal year.
Cinedigm Corp. is a distributor and aggregator of independent movie, television and other short form content. The Company operates in four segments: the first digital cinema deployment (Phase I Deployment), the second digital cinema deployment (Phase II Deployment), digital cinema services (Services), and media content and entertainment group (Content & Entertainment or CEG).
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