Cinedigm Corp (CIDM) Shares Up -12.2%

Shares of Cinedigm Corp (NASDAQ:CIDM) shot up 12.2% on Wednesday . The company traded as high as $1.79 and last traded at $1.44. 353,286 shares traded hands during trading, an increase of 432% from the average session volume of 66,463 shares. The stock had previously closed at $1.64.

Separately, ValuEngine lowered Cinedigm Corp from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 3rd.

The company’s market capitalization is $19.30 million. The firm has a 50 day moving average price of $1.49 and a 200-day moving average price of $1.59.

Cinedigm Corp (NASDAQ:CIDM) last posted its quarterly earnings results on Monday, August 14th. The business services provider reported ($0.48) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.37. The business had revenue of $15.24 million during the quarter. Equities research analysts forecast that Cinedigm Corp will post ($3.05) EPS for the current year.

An institutional investor recently raised its position in Cinedigm Corp stock. Renaissance Technologies LLC grew its holdings in Cinedigm Corp (NASDAQ:CIDM) by 35.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 4.10% of Cinedigm Corp worth $668,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.69% of the company’s stock.

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Cinedigm Corp Company Profile

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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