In the last trading session, 14,196,870 shares of the Cinedigm Corp.(NASDAQ:CIDM) were traded, and its beta was 1.85. Most recently the company’s share price was $1.91, and it changed around -$0.06 or -0.03% from the last close, which brings the market valuation of the company to $315.57 Million. CIDM currently trades at a discount to its 52-week high of $6, offering almost -214.14% off that amount. The share price’s 52-week low was $0.25, which indicates that the current value has risen by an impressive 86.91% since then. We note from Cinedigm Corp.’s average daily trading volume that its 10-day average is 11.68 Million shares, with the 3-month average coming to 20.84 Million.
Cinedigm Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 2 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended CIDM as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Cinedigm Corp. is expected to report earnings per share of -$0.04 for the current quarter.
Cinedigm Corp. (NASDAQ:CIDM): Trading Information
Although CIDM has showed a red trend with a performance of -3.05% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.18 on Tuesday, Feb 16 increased the stock’s daily price by 12.39%. The company’s shares are currently up 1.96% year-to-date, but still down -0.045 over the last five days. On the other hand, Cinedigm Corp. (NASDAQ:CIDM) is 0.38% up in the 30-day period. We can see from the shorts that 3.34 Million shares have been sold at a short interest cover period of 0.16 day(s).
The consensus price target as assigned by Wall Street analysts is $3.25, which translates to bears needing to increase their stock price by 70.16% from its current value. Analyst projections state that CIDM is forecast to be at a low of $3 and a high of $3.5. In order for the stock price to hit the forecast high, the stock would need to surge +83.25% from its current level, while the stock would need to crash 57.07% from its current level to reach the projected low.
Cinedigm Corp. (CIDM) projections and forecasts
Cinedigm Corp. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +98.57 percent over the past six months. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +50% in revenue this quarter, and will report an increase of 85.7% in the next quarter. The year-over-year growth rate is expected to be -22.5%, down from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $8.08 Million in revenue for the current quarter. 1 analysts expect Cinedigm Corp. to make $8.67 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $7.74 Million and $6.02 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 4.5%. Forecasts for the next quarter put sales growth at 44.1%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 37.9%. Cinedigm Corp. earnings are expected to increase by 21.6% in 2021, but the outlook is positive 10% per year for the next five years.
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Cinedigm Corp. (NASDAQ:CIDM)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 43.81% of Cinedigm Corp. shares, and 18.17% of them are in the hands of institutional investors. The stock currently has a share float of 32.34%. Cinedigm Corp. stock is held by 33 institutions, with Kore Private Wealth LLC being the largest institutional investor. By Dec 30, 2020, it held 1.14% of the shares, which is about 1.48 Million shares worth $956.93 Thousand.
Vanguard Group, Inc. (The), with 1.06% or 1.38 Million shares worth $888.14 Thousand as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 786863 shares worth $444.66 Thousand, making up 0.61% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 565Thousand shares worth around $319.28 Thousand, which represents about 0.44% of the total shares outstanding.