The trading price of Cinedigm Corp. (NASDAQ:CIDM) floating higher at last check on Monday, May 17, closing at $1.18, 3.39% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $1.1682 and $1.2300. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 1.87. In examining the 52-week price action we see that the stock hit a 52-week high of $6 and a 52-week low of $0.45. Over the past month, the stock has suffered 0% in value.
Analysts have forecast the company to bring in revenue of $7.56 Million for the quarter, with the likely lows of $7.56 Million and highs of $7.56 Million. The average estimate suggests sales will likely down by -2.3% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $30.62 Million. The company’s revenue is forecast to drop by -22.1% over what it did in 2020.
On the technical side, indicators suggest CIDM has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CIDM a recommendation rating is 2. Out of them, no one rate it a Hold, while 2 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Cinedigm Corp. (CIDM) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CIDM’s price is currently -6.96% off the SMA20 and -9.92% off the SMA50. The RSI metric on the 14-day chart is currently showing 45.1, and weekly volatility stands at 10.85%. When measured over the past 30 days, the indicator reaches 11.35%. Cinedigm Corp. (NASDAQ:CIDM)’s beta value is currently sitting at 1.87, while the Average True Range indicator is currently displaying 0.14. With analysts defining $3-$3.5 as the low and high price targets, we arrive at a consensus price target of $3.25 for the trailing 12-month period. The current price is about 145.9% off the estimated low and 186.89% off the forecast high, based on this estimate. Investors will be thrilled if CIDM’s share price rises to $3.25, which is the median consensus price. At that level, CIDM’s share price would be +166.39% above current price.
To see how Cinedigm Corp. stock has been performing today in comparison to its peers in the industry, here are the numbers: CIDM stock’s performance was +3.39% at last check in today’s session, and +78.79% in the past year, while Avis Budget Group (CAR) has been trading +1.47% in recent session and positioned +629.66% higher than it was a year ago. Another comparable company Api Group Corp (APG) saw its stock trading -2.14% lower in today’s session but was up +107.94% in a year. Furthermore, Brookfield Business Partners LP (BBU) showed an increase of 3.39% today while its price kept rising at 78.79% over the past year. Cinedigm Corp. has a P/E ratio of 0, compared to Avis Budget Group’s 0 and Api Group Corp’s 0. Also during today’s trading, the S&P 500 Index has soared -0.46%, while the Dow Jones Industrial also saw a negative seesion, down -0.34% today.
An evaluation of the daily trading volume of Cinedigm Corp. (NASDAQ:CIDM) indicates that the 3-month average is 26.29 Million. However, this figure has increased over the past 10 days to an average of 28.41 Million.
Currently, records show that 165.95 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 14.13% of outstanding shares, whereas institutions hold 6.65%. The stats also highlight that short interest as of April 14, 2021, stood at 7.62 Million shares, resulting in a short ratio of 0.2 at that time. From this, we can conclude that short interest is 4.59% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 3Million. However, since the stock’s price has seen +83% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.