Cinedigm Corp (NASDAQ:CIDM) was the target of a large decrease in short interest in July. As of July 14th, there was short interest totalling 420,280 shares, a decrease of 33.5% from the June 30th total of 631,884 shares. Based on an average trading volume of 109,936 shares, the days-to-cover ratio is currently 3.8 days. Currently, 4.7% of the company’s stock are short sold.
A hedge fund recently raised its stake in Cinedigm Corp stock. Renaissance Technologies LLC increased its stake in Cinedigm Corp (NASDAQ:CIDM) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,940 shares of the business services provider’s stock after buying an additional 78,689 shares during the period. Renaissance Technologies LLC owned approximately 3.55% of Cinedigm Corp worth $458,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.19% of the company’s stock.
Separately, ValuEngine raised Cinedigm Corp from a “strong sell” rating to a “sell” rating in a report on Thursday, May 18th.
Cinedigm Corp (NASDAQ CIDM) opened at 1.45 on Friday. The company’s market capitalization is $19.80 million. The company has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.56. Cinedigm Corp has a one year low of $1.20 and a one year high of $2.67.
Cinedigm Corp (NASDAQ:CIDM) last posted its earnings results on Monday, August 14th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.37. The business had revenue of $15.24 million for the quarter. Analysts expect that Cinedigm Corp will post ($3.05) earnings per share for the current fiscal year.
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About Cinedigm Corp
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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