Cinedigm Corp. (CIDM) Stock Price Down 7.1%
Shares of Cinedigm Corp. (NASDAQ:CIDM) dropped 7.1% during trading on Tuesday . The stock traded as low as $2.20 and last traded at $2.23, with a volume of 116,199 shares trading hands. The stock had previously closed at $2.40.
Separately, Zacks Investment Research upgraded Cinedigm Corp. from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a report on Wednesday, July 20th.
The company’s 50 day moving average is $1.62 and its 200-day moving average is $1.95. The firm’s market capitalization is $15.76 million.
Cinedigm Corp. (NASDAQ:CIDM) last posted its quarterly earnings data on Monday, August 15th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.55. The company earned $22.50 million during the quarter, compared to analyst estimates of $21.06 million. On average, equities analysts forecast that Cinedigm Corp. will post ($3.05) earnings per share 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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