Cinedigm Corp. (NASDAQ:CIDM) price on Thursday, Jul 15, rose 14.64% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.24.
A look at the stock’s price movement, the level at last check in today’s session was $1.08, moving within a range at $1.2300 and $1.3700. The beta value (5-Year monthly) was 1.75 while the PE ratio in trailing twelve months stood at 0. Turning to its 52-week performance, $2.33 and $0.45 were the 52-week high and 52-week low respectively. Overall, CIDM moved -32.92% over the past month.
Analysts have a consensus estimate of $7.71 Million for the company’s revenue for the quarter, with a low and high estimate of $7.71 Million and $7.71 Million respectively. The average forecast suggests up to a -0.3% decline in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to shrink to $30.7 Million, representing a -21.9% drop on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CIDM is a 50% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of none analyst(s) rate the stock as a Hold, 2 recommend CIDM as a Buy and none give it an Outperform rating. Meanwhile, none analyst(s) rate the stock as Underperform and none say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0, with CIDM’s current price about -4.8% and -9.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.43, while 7-day volatility ratio is 9.78% and 6.92% in the 30-day chart. Further, Cinedigm Corp. (CIDM) has a beta value of 1.75, and an average true range (ATR) of 0.09. Analysts have given the company’s stock an average 52-week price target of $3.25, forecast between a low of $3 and high of $3.5. Looking at the price targets, the low is 141.94% off recent price level in today’s trading while to achieve the yearly target high, it has to move +182.26%. Nonetheless, investors will most likely welcome a +162.1% jump to $3.25 which is the analysts’ median price.
In the market, a comparison of Cinedigm Corp. (CIDM) and its peers suggest the former has performed considerably weaker. Data shows CIDM’s intraday price has changed +14.64% today and -43.75% over the past year. Comparatively, Concentrix Corporation (CNXC) has moved +0.02% so far today and only 0% in the past 12 months. Looking at another peer, we see that Avis Budget Group (CAR) price has surged 2.87% on the day. However, the stock is 152.39% off its price today a year ago. Moreover, Api Group Corp (APG) is also up 14.64% in today’s trading while keeping a downtrend of -43.75% over the past year. If we look at the PE ratio, we find that Cinedigm Corp.’s ratio stands at 0 compared to Concentrix Corporation’s 0 and Avis Budget Group’s 0. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.34% and down -0.01% respectively on the day as seen in early trades.
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If we refocus on Cinedigm Corp. (NASDAQ:CIDM), historical trading data shows that trading volumes averaged 9.28 Million over the past 10 days and 21.22 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 165.95 Million shares.
As per Thomson Reuters, 14.13% of Cinedigm Corp.’s shares are in the hands of company insiders while institutional holders own 9.41% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.59 Million on June 29, 2021, giving us a short ratio of 0.49. The data shows that as of June 29, 2021 short interest in Cinedigm Corp. (CIDM) stood at 2.17% of shares outstanding, with shares short dropping from 6.17 Million registered in May. Current price change has pushed the stock +67.49% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CIDM stock continues to rise going into the next quarter.