Cinedigm (NASDAQ:CIDM) announced its earnings results on Monday. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04), MarketWatch Earnings reports.
Shares of NASDAQ:CIDM traded down $0.42 during midday trading on Tuesday, reaching $1.49. The company’s stock had a trading volume of 150,380 shares, compared to its average volume of 22,312,465. Cinedigm has a 12-month low of $0.25 and a 12-month high of $6.00. The firm has a 50 day moving average of $1.38 and a 200-day moving average of $0.88. The firm has a market capitalization of $193.45 million, a P/E ratio of -2.46 and a beta of 1.79.
Several brokerages recently commented on CIDM. Benchmark reissued a “buy” rating and issued a $3.50 price objective on shares of Cinedigm in a research note on Friday, January 29th. Alliance Global Partners raised their price target on shares of Cinedigm from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Thursday, January 21st.
Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content in the United States, Canada, and New Zealand. The company operates through two segments, Cinema Equipment Business and Content and Entertainment Business.
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