Cinedigm Corp. [NASDAQ: CIDM] loss -3.74% or -0.07 points to close at $1.80 with a heavy trading volume of 18832600 shares. The company report on February 5, 2021 that Cinedigm Closes $7.0 Million Registered Direct Offering and Plans to Use a Portion of the Proceeds to Retire All Remaining Second Lien Debt.
Offering Proceeds Will Also be used for Content and Streaming Channel Acquisitions.
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Cinedigm Corp. (NASDAQ:CIDM) (“Cinedigm” or the “Company”), announced that it has consummated the sale of 5,600,000 shares of its Class A common stock at a purchase price of $1.25 per share in a registered direct offering to a single institutional investor.
It opened the trading session at $1.94, the shares rose to $1.96 and dropped to $1.70, the range by which the price of stock traded the whole day. The daily chart for CIDM points out that the company has recorded 18.42% gains over the past six months. However, it is still -620.0% lower than its most recent low trading price.
If we look at the average trading volume of 18.60M shares, CIDM reached to a volume of 18832600 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Cinedigm Corp. [CIDM]:
Alliance Global Partners have made an estimate for Cinedigm Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Speculative Buy. The new note on the price target was released on July 07, 2020, representing the official price target for Cinedigm Corp. stock. On June 27, 2014, analysts decreased their price target for CIDM shares from 3.50 to 3.25.
The Average True Range (ATR) for Cinedigm Corp. is set at 0.19, with the Price to Sales ratio for CIDM stock in the period of the last 12 months amounting to 7.65.
Trading performance analysis for CIDM stock
Cinedigm Corp. [CIDM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.00. With this latest performance, CIDM shares gained by 153.52% in over the last four-week period, additionally plugging by 18.42% over the last 6 months – not to mention a rise of 232.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIDM stock in for the last two-week period is set at 76.16, with the RSI for the last a single of trading hit 77.24, and the three-weeks RSI is set at 74.56 for Cinedigm Corp. [CIDM]. The present Moving Average for the last 50 days of trading for this stock 0.9071, while it was recorded at 1.6020 for the last single week of trading, and 1.0511 for the last 200 days.
Cinedigm Corp. [CIDM]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Cinedigm Corp. [CIDM] shares currently have an operating margin of -11.07 and a Gross Margin at +32.46. Cinedigm Corp.’s Net Margin is presently recorded at -37.50.
Additionally, CIDM Total Debt to Total Capital is recorded at 156.36, with Total Debt to Total Assets ending up at 45.24.
Reflecting on the efficiency of the workforce at the company, Cinedigm Corp. [CIDM] managed to generate an average of -$204,639 per employee. Receivables Turnover for the company is 0.99 with a Total Asset Turnover recorded at a value of 0.38.Cinedigm Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
Cinedigm Corp. [CIDM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cinedigm Corp. posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -116.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIDM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cinedigm Corp. go to 10.00%.
An analysis of insider ownership at Cinedigm Corp. [CIDM]
There are presently around $16 million, or 10.20% of CIDM stock, in the hands of institutional investors. The top three institutional holders of CIDM stocks are: SABBY MANAGEMENT, LLC with ownership of 4,875,949, which is approximately New of the company’s market cap and around 4.00% of the total institutional ownership; VANGUARD GROUP INC, holding 1,377,394 shares of the stock with an approximate value of $2.48 million in CIDM stocks shares; and BLACKROCK INC., currently with $1.26 million in CIDM stock with ownership of nearly 0.036% of the company’s market capitalization.
Positions in Cinedigm Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 17 institutional holders increased their position in Cinedigm Corp. [NASDAQ:CIDM] by around 5,310,184 shares. Additionally, 12 investors decreased positions by around 1,488,020 shares, while 8 investors held positions by with 2,118,786 shares. The mentioned changes placed institutional holdings at 8,916,990 shares, according to the latest SEC report filing. CIDM stock had 9 new institutional investments in for a total of 5,090,182 shares, while 9 institutional investors sold positions of 716,713 shares during the same period.