Cinedigm Corp (NASDAQ:CIDM) Receives Consensus Rating of “Strong Buy” from Brokerages

Shares of Cinedigm Corp (NASDAQ:CIDM) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a twelve-month consensus target price of $2.78 for the company, according to Zacks. Zacks has also assigned Cinedigm an industry rank of 188 out of 256 based on the ratings given to related companies.

A number of equities research analysts have recently commented on CIDM shares. Canaccord Genuity set a $3.00 target price on Cinedigm and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine upgraded Cinedigm from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

A hedge fund recently bought a new stake in Cinedigm stock. Bailard Inc. acquired a new position in Cinedigm Corp (NASDAQ:CIDM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 46,100 shares of the business services provider’s stock, valued at approximately $88,000. Bailard Inc. owned about 0.13% of Cinedigm at the end of the most recent quarter. 7.63% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CIDM traded up $0.06 during trading on Thursday, reaching $1.30. 17,450 shares of the company’s stock traded hands, compared to its average volume of 27,762. Cinedigm has a fifty-two week low of $0.48 and a fifty-two week high of $2.06. The stock has a 50-day simple moving average of $1.25.

About Cinedigm

Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.

Read More: The basics of gap trading strategies

Get a free copy of the Zacks research report on Cinedigm (CIDM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cinedigm Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cinedigm and related companies with MarketBeat.com's FREE daily email newsletter.