Cinedigm Corp (NASDAQ:CIDM) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Cinedigm Corp (NASDAQ:CIDM) opened at 1.54 on Friday. The firm’s 50-day moving average price is $1.77 and its 200 day moving average price is $1.54. Cinedigm Corp has a 52-week low of $1.20 and a 52-week high of $3.00. The firm’s market cap is $19.07 million.

Cinedigm Corp (NASDAQ:CIDM) last released its earnings results on Thursday, June 29th. The business services provider reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by $0.12. The business had revenue of $19.59 million during the quarter. On average, equities research analysts forecast that Cinedigm Corp will post ($3.05) EPS for the current year.

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A hedge fund recently raised its stake in Cinedigm Corp stock. Renaissance Technologies LLC boosted its position in Cinedigm Corp (NASDAQ:CIDM) by 32.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,940 shares of the business services provider’s stock after buying an additional 78,689 shares during the period. Renaissance Technologies LLC owned 3.55% of Cinedigm Corp worth $458,000 as of its most recent filing with the SEC. 11.13% of the stock is owned by institutional investors.

About Cinedigm Corp

Cinedigm Corp. is a distributor and aggregator of independent movie, television and other short form content managing a library of distribution rights to a range of titles and episodes released across various platforms. The Company’s segments include the first digital cinema deployment (Phase I Deployment), the second digital cinema deployment (Phase II Deployment), digital cinema services (Services), and media content and entertainment group (Content & Entertainment).

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