Cinedigm Corp (NASDAQ:CIDM) Given $2.08 Average Target Price by Brokerages

Cinedigm Corp (NASDAQ:CIDM) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price target of $2.08 for the company, according to Zacks. Zacks has also given Cinedigm an industry rank of 88 out of 255 based on the ratings given to its competitors.

NASDAQ CIDM traded down $0.01 during trading hours on Friday, hitting $0.52. 21,500 shares of the company traded hands, compared to its average volume of 123,439. The business’s 50-day moving average is $0.61 and its 200-day moving average is $0.84. Cinedigm has a twelve month low of $0.50 and a twelve month high of $2.06. The stock has a market capitalization of $21.31 million, a price-to-earnings ratio of -1.21 and a beta of 1.31.

An institutional investor recently raised its position in Cinedigm stock. Vanguard Group Inc. raised its holdings in Cinedigm Corp (NASDAQ:CIDM) by 37.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,828 shares of the business services provider’s stock after buying an additional 44,902 shares during the period. Vanguard Group Inc. owned about 0.46% of Cinedigm worth $224,000 at the end of the most recent quarter. 7.02% of the stock is currently owned by hedge funds and other institutional investors.

Cinedigm Company Profile

Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.

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