Zacks Downgrades Cinedigm Corp to Underperform (CIDM)
Cinedigm Corp (NASDAQ:CIDM) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Tuesday. They currently have a $2.00 price objective on the stock. Zacks‘s target price would suggest a potential downside of 3.85% from the company’s current price.
Shares of Cinedigm Corp (NASDAQ:CIDM) traded down 5.29% during mid-day trading on Tuesday, hitting $1.97. 395,281 shares of the company’s stock traded hands. Cinedigm Corp has a 1-year low of $1.42 and a 1-year high of $3.25. The stock has a 50-day moving average of $2.29 and a 200-day moving average of $2.57. The company’s market cap is $153.4 million.
Cinedigm Corp (NASDAQ:CIDM) last released its earnings data on Wednesday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.10. The company had revenue of $22.90 million for the quarter, compared to the consensus estimate of $30.16 million. On average, analysts predict that Cinedigm Corp will post $-0.27 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CIDM. Analysts at B. Riley reiterated a “buy” rating on shares of Cinedigm Corp in a research note on Thursday, August 14th. They now have a $3.00 price target on the stock, down previously from $3.25.
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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