BidaskClub Upgrades Cinedigm Corp (CIDM) to “Sell”
Cinedigm Corp (NASDAQ:CIDM) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.
Separately, ValuEngine downgraded Cinedigm Corp from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 22nd.
Cinedigm Corp (NASDAQ:CIDM) traded down $0.10 during trading hours on Friday, reaching $1.28. The company had a trading volume of 41,529 shares, compared to its average volume of 191,573. Cinedigm Corp has a 52-week low of $1.11 and a 52-week high of $3.00. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of -1.39.
Cinedigm Corp (NASDAQ:CIDM) last issued its earnings results on Monday, August 14th. The business services provider reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.37. The firm had revenue of $15.24 million during the quarter.
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An institutional investor recently raised its position in Cinedigm Corp stock. Renaissance Technologies LLC raised its position in shares of Cinedigm Corp (NASDAQ:CIDM) by 35.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 431,040 shares of the business services provider’s stock after acquiring an additional 113,100 shares during the period. Renaissance Technologies LLC owned approximately 4.10% of Cinedigm Corp worth $668,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 8.71% of the company’s stock.
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 thousands of titles and episodes released across digital, physical, and home and mobile entertainment platforms. The Company also provides digital cinema assets servicing on over 12,000 domestic and foreign movie screens.
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