Cinedigm Corp. (NASDAQ:CIDM) shares, dropped in value on Thursday, Apr 08, with the stock price down by -1.39% to the previous day’s close as weak demand from buyers trailed the stock to $1.34.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.36, falling within a range of $1.3100 and $1.3900. The value of beta (5-year monthly) is 1.9 whereas the PE ratio is 0 over 12-month period. Referring to stock’s 52-week performance, its high was $6, and the low was $0.37. On the whole, CIDM has fluctuated by 10.57% over the past month.
Analysts have estimated the company’s revenue for the quarter at $7.56 Million, with a low estimate of $7.56 Million and a high estimate of $7.56 Million. According to the average forecast, sales growth in current quarter could fell down -2.3%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2021, the company’s y-o-y revenues would reach $30.62 Million, representing a decline of -22.1% from the revenues reported in the last year’s results.
We see that CIDM’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
2 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by none analyst(s), 2 recommend it as a Buy and no body called the CIDM stock Outperform. In the meantime, none analyst(s) believe the stock as Underperform and none think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CIDM currently trading nearly -8.52% and -13.04% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.23, while the 7-day volatility ratio is showing 7.97% which for the 30-day chart, stands at 13.01%. Furthermore, Cinedigm Corp. (CIDM)’s beta value is 1.9, and its average true range (ATR) is 0.2. The company’s stock has been forecasted to trade at an average price of $3.25 over the course of the next 52 weeks, with a low of $3 and a high of $3.5. Based on these price targets, the low is 123.88 off current price, whereas the price has to move +161.19% to reach the yearly target high. Additionally, analysts’ median price of $3.25 is likely to be welcomed by investors because it represents an increase of +142.54% from the current levels.
A comparison of Cinedigm Corp. (CIDM) with its peers suggests the former has fared considerably weaker in the market. CIDM showed an intraday change of -1.39% in today’s session so far, and over the past year, it grew by +263.83%. In comparison, Avis Budget Group (CAR) has moved lower at -1.17% today and is up +509.87% over the past 12 months. On the other hand, the price of Api Group Corp (APG) has risen 0.96% today. The stock, however, is off 221.76% from where it was a year ago. Additionally, there is a decline of -139% for Wns Ltd (WNS) in recent trading while the stock has seen an overall apprecation of 263.83% over the past year. The PE ratio stands at 0 for Cinedigm Corp., compared to 0 for Avis Budget Group, and 0 for Api Group Corp. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.29%. Meanwhile, the Dow Jones Industrial weakened by -0.03%.
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Data on historical trading for Cinedigm Corp. (NASDAQ:CIDM) indicates that the trading volumes over the past 10 days have averaged 28.41 Million and over the past 3 months, they’ve averaged 26.29 Million. According to company’s latest data on outstanding shares, there are 165.95 Million shares outstanding.
Nearly 14.09% of Cinedigm Corp.’s shares belong to company insiders and institutional investors own 6.65% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 3Million shares as on March 14, 2021, resulting in a short ratio of 0.23. According to the data, the short interest in Cinedigm Corp. (CIDM) stood at 1.81% of shares outstanding as of March 14, 2021; the number of short shares registered in February reached 4.94 Million. The stock has risen by +110.92% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CIDM stock heading into the next quarter.