Cinedigm Corp (CIDM) Posts Quarterly Results
Cinedigm Corp (NASDAQ:CIDM) posted its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.05) by $0.10, Analyst Ratings.Net reports. The company had revenue of $22.90 million for the quarter, compared to the consensus estimate of $30.16 million.
On the ratings front, analysts at B. Riley cut their price target on shares of Cinedigm Corp from $3.50 to $3.25 in a research note on Friday, June 27th. They now have a “buy” rating on the stock.
Cinedigm Corp (NASDAQ:CIDM) traded up 3.54% during mid-day trading on Wednesday, hitting $2.34. The stock had a trading volume of 223,682 shares. Cinedigm Corp has a 52-week low of $1.39 and a 52-week high of $3.25. The stock has a 50-day moving average of $2.40 and a 200-day moving average of $2.60. The company’s market cap is $179.3 million.
Cinedigm Corp., formerly Cinedigm Digital Cinema Corp. (NASDAQ:CIDM) is a digital cinema services, software and content marketing and distribution company supporting and capitalizing on the conversion of the exhibition industry from film to digital technology.
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