Cinedigm Corp. (CIDM) Price Target: Is It Set To Rise Or Fall In Price?

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Cinedigm Corp. (NASDAQ:CIDM) finished Friday with an addition of $0.01 to close at $0.39, an upside of 1.23 percent. An average of 679,880 shares of common stock have been traded in the last five days. There was a fall of -$0.0227 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 490,820 shares traded, while the 50-day average volume stands at 605,386.

CIDM stock has decreased by -18.41% in the last month. The company shares reached their 1-month lowest point of $0.3700 on 12/28/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $0.37 and a high of $1.33 in 52 weeks. It has reached a new high 2 times so far this year and lost -66.58% or -$0.7723 in price. In spite of this, the price is down -70.85% from the 52-week high.

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Insider Transactions

CIDM stock investors should be aware that Cinedigm Corp. (CIDM) stock had its last reported insider trading activity 131 days ago on Aug 22.

Valuation Metrics

Cinedigm Corp. (CIDM) stock’s beta is 1.84. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.17, the price-to-book (PB) ratio at 2.28.

Financial Health

The quick ratio of Cinedigm Corp. for the three months ended September 29 was 0.80, and the current ratio was 0.80, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.12 for the quarter ending September 29. Its gross profit as reported stood at $35.16 million compared to revenue of $56.05 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cinedigm Corp.’s return on assets was -15.20%.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$5.75 million in the quarter, while revenues were grew 95.3%. The analyst consensus anticipated Cinedigm Corp.’s latest quarter earnings to come in at -$0.03 per share, but it turned out to be -$0.03, a 0.00% surprise. For the quarter, EBITDA amounted to -$3.71 million. Shareholders own equity worth $178.18 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Cinedigm Corp. (CIDM) price momentum. RSI 9-day as of the close on 30 December was 27.29%, suggesting the stock is oversold, with historical volatility in this time frame at 35.34%.

As of today, CIDM’s price is $0.3920 -5.53% or -$0.0227 from its 5-day moving average. CIDM is currently trading -19.23% lower than its 20-day SMA and -36.75% lower than its 100-day SMA. However, the stock’s current price level is -12.29% below the SMA50 and -43.65% below the SMA200.

The stochastic %K and %D were 9.45% and 9.75%, respectively, and the average true range (ATR) was 0.0314. With the 14-day stochastic at 12.64% and the average true range at 0.0335, the RSI (14) stands at 31.78%. The stock has reached -0.0214 on the 9-day MACD Oscillator while the 14-day reading was at -0.0433.

Analyst Ratings

Alliance Global Partners reiterated its a Buy rating on Cinedigm Corp. (NASDAQ: CIDM), but raised their price target to $2, indicating a potential price increase of 80.5% for the stock.

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