Cinedigm Corp. (NASDAQ:CIDM): Why Investors Shouldn’t Ditch CIDM stock in 2021 – Marketing Sentinel

Cinedigm Corp. (NASDAQ:CIDM): Why Investors Shouldn’t Ditch CIDM stock in 2021

In the last trading session, 26,700,446 Cinedigm Corp. (NASDAQ:CIDM) shares changed hands as the company’s beta touched 1.92. With the company’s per share price at $1.56 changed hands at -$0.13 or -0.08% during last session, the market valuation stood at $258.89 Million. CIDM’s last price was a discount, traded about -284.62% off its 52-week high of $6. The share price had its 52-week low at $0.32, which suggests the last value was 79.49% up since then. When we look at Cinedigm Corp.’s average trading volume, we note the 10-day average is 97.92 Million shares, with the 3-month average coming to 25.34 Million.

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Analysts gave the Cinedigm Corp. (CIDM) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 2 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended CIDM as a Hold, 2 felt it is a Buy and none rated the stock as Underweight. Cinedigm Corp.’s EPS for the current quarter is expected to be -$0.07.

Cinedigm Corp. (NASDAQ:CIDM) trade information

Although CIDM has turned red as seen at the end of in last trading. With action -7.69%, the performance over the past five days has been green. The jump to weekly highs of $2.21 on Wednesday, Mar 24 added 29.41% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.42%, with the 5-day performance at 0.16% in the green. However, in the 30-day time frame, Cinedigm Corp. (NASDAQ:CIDM) is 0.11% up. Looking at the short shares, we see there were 3Million shares sold at short interest cover period of 0.12 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.25, meaning bulls need an upside of 108.33% from its current market value. According to analyst projections, CIDM’s forecast low is $3 with $3.5 as the target high. To hit the forecast high, the stock’s price needs a +124.36% upsurge from its current level, while the stock would need to tank 92.31% for it to hit the projected low.

Cinedigm Corp. (CIDM) estimates and forecasts

Data shows that the Cinedigm Corp. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +168.97% over the past 6 months. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Cinedigm Corp. will rise +12.5%, while the growth in revenue is estimated to hit 71.4% for the next quarter. Year-over-year growth is forecast to reach -22.1% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $7.56 Million. 1 analysts are of the opinion that Cinedigm Corp.’s revenue for the quarter ending June 01, 2021 will be $8.07 Million. The company’s revenue for the corresponding quarters a year ago was $7.74 Million and $6.02 Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -2.3%. The estimates for the next quarter sales put growth at 34.1%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 37.9%. The 2021 estimates are for Cinedigm Corp. earnings to increase by 21.6%, but the outlook for the next 5-year period is at 10% per year.

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Cinedigm Corp. (NASDAQ:CIDM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 43.81% of Cinedigm Corp. shares while 18.17% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 32.34%. There are 33 institutions holding the Cinedigm Corp. stock share, with Kore Private Wealth LLC the top institutional holder. As of Dec 30, 2020, the company held 0.89% of the shares, roughly 1.48 Million CIDM shares worth $956.93 Thousand.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 0.83% or 1.38 Million shares worth $888.14 Thousand as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 786863 shares estimated at $507.37 Thousand under it, the former controlled 0.47% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.34% of the shares, roughly 565Thousand shares worth around $364.31 Thousand.

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