In the last trading session, 6,425,129 Cinedigm Corp. (NASDAQ:CIDM) shares changed hands as the company’s beta touched 1.81. With the company’s per share price at $1.37 changed hands at -$0.01 or -0.01% during last session, the market valuation stood at $236.83 Million. CIDM’s last price was a discount, traded about -81.75% off its 52-week high of $2.49. The share price had its 52-week low at $0.45, which suggests the last value was 67.15% up since then. When we look at Cinedigm Corp.’s average trading volume, we note the 10-day average is 5.63 Million shares, with the 3-month average coming to 31.9 Million.
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 -$0.05.
Cinedigm Corp. (NASDAQ:CIDM) trade information
Although CIDM has turned red as seen at the end of in last trading. With action -0.72%, the performance over the past five days has been red. The jump to weekly highs of $1.59 on Tuesday, Jun 15 added 13.84% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.12%, with the 5-day performance at -0.15% in the red. However, in the 30-day time frame, Cinedigm Corp. (NASDAQ:CIDM) is 0.06% up. Looking at the short shares, we see there were 6.17 Million shares sold at short interest cover period of 0.19 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.25, meaning bulls need an upside of 137.23% 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 +155.47% upsurge from its current level, while the stock would need to tank 118.98% 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 +69.14% 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 +37.5%, while the growth in revenue is estimated to hit 85.7% for the next quarter. Year-over-year growth is forecast to reach -21.9% 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 $7.71 Million. 1 analysts are of the opinion that Cinedigm Corp.’s revenue for the quarter ending in Aug 2021 will be $12.41 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 -0.3%. The estimates for the next quarter sales put growth at 106.2%.
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.
Cinedigm Corp. (NASDAQ:CIDM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 14.13% of Cinedigm Corp. shares while 9.41% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 10.95%. There are 44 institutions holding the Cinedigm Corp. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 2.85% of the shares, roughly 4.73 Million CIDM shares worth $7.9 Million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.24% or 2.06 Million shares worth $3.44 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 3539726 shares estimated at $5.91 Million under it, the former controlled 2.13% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.58% of the shares, roughly 962.6 Thousand shares worth around $1.61 Million.