Cinedigm Corp. (CIDM) Shares Up 39.9%
Cinedigm Corp. (NASDAQ:CIDM) shot up 39.9% during mid-day trading on Thursday . The company traded as high as $2.46 and last traded at $2.14, with a volume of 1,613,503 shares changing hands. The stock had previously closed at $1.53.
Separately, Zacks Investment Research upgraded shares of Cinedigm Corp. from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a report on Wednesday.
The firm’s 50-day moving average price is $1.36 and its 200 day moving average price is $2.05. The firm’s market cap is $15.76 million.
Cinedigm Corp. (NASDAQ:CIDM) last issued 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. During the same period in the previous year, the company posted ($0.60) earnings per share. The business earned $28.20 million during the quarter, compared to analyst estimates of $23.20 million. Equities analysts predict that Cinedigm Corp. will post ($3.05) EPS for the current 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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