ValuEngine downgraded shares of Cinedigm Corp (NASDAQ:CIDM) from a sell rating to a strong sell rating in a report issued on Tuesday.

Shares of Cinedigm Corp (NASDAQ CIDM) traded up 0.68% during midday trading on Tuesday, reaching $1.49. 11,911 shares of the company were exchanged. Cinedigm Corp has a 52 week low of $1.20 and a 52 week high of $2.67. The firm has a 50-day moving average of $1.49 and a 200 day moving average of $1.58. The firm’s market capitalization is $20.35 million.

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

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An institutional investor recently raised its position in Cinedigm Corp stock. Renaissance Technologies LLC grew its holdings in shares of Cinedigm Corp (NASDAQ:CIDM) by 35.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 431,040 shares of the business services provider’s stock after purchasing 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 SEC filing. 8.69% of the stock is currently owned by institutional investors and hedge funds.

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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