Cinedigm Corp. (NASDAQ:CIDM) shares, rose in value on Thursday, July 22, with the stock price down by -3.93% to the previous day’s close as strong demand from buyers drove the stock to $1.50.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.56, falling within a range of $1.45 and $1.62. The value of beta (5-year monthly) is 1.80. Referring to stock’s 52-week performance, its high was $2.33, and the low was $0.45. On the whole, CIDM has fluctuated by 13.87% over the past month.
With the market capitalization of Cinedigm Corp. currently standing at about $285.78 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 12, 2021 – Aug 16, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.05, which is expected to increase to -$0.01 for fiscal year -$0.55 and then to about -$0.12 by fiscal year 2022.
Analysts have estimated the company’s revenue for the quarter at $7.71 million, with a low estimate of $7.71 million and a high estimate of $7.71 million. According to the average forecast, sales growth in current quarter could jump down -0.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $30.7 million, representing a decrease of -21.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. 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 100% 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 0 analyst(s), 2 recommend it as a Buy and 0 called the CIDM stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 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 14.45% and 8.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 56.80, while the 7-day volatility ratio is showing 16.47% which for the 30-day chart, stands at 9.00%. Furthermore, Cinedigm Corp. (CIDM)’s beta value is 1.75, and its average true range (ATR) is 0.13. 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 $3.00 and a high of $3.50. Based on these price targets, the low is -100.0% off current price, whereas the price has to move -133.33% to reach the yearly target high. Additionally, analysts’ median price of $3.25 is likely to be welcomed by investors because it represents a decrease of -116.67% 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 -3.93% in today’s session so far, and over the past year, it shrunk by -10.86%%. In comparison, ViacomCBS Inc. (VIAC) has moved lower at -1.57% today and is up 68.43% over the past 12 months. On the other hand, the price of AMC Networks Inc. (AMCX) has fallen -5.01% today. The stock, however, is off 130.96% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.05%. Meanwhile, the Dow Jones Industrial Slipped by -0.08%.
Data on historical trading for Cinedigm Corp. (NASDAQ:CIDM) indicates that the trading volumes over the past 3 months, they’ve averaged 24.25 million. According to company’s latest data on outstanding shares, there are 136.87 million shares outstanding.
Nearly 0.40% of Cinedigm Corp.’s shares belong to company insiders and institutional investors own 9.40% of the company’s shares. The stock has risen by 141.94% 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.