Cinedigm Corp. [NASDAQ: CIDM] stock went on an upward path that rose over 8.77% on Thursday, amounting to a one-week price decrease of less than -3.88%. The company report on July 8, 2021 that Cinedigm Announces Forgiveness of $2.2 Million Paycheck Protection Program Loan.
Cinedigm (NASDAQ:CIDM) announced that the Company has received forgiveness of approximately $2.2 million of loan proceeds and accrued interest (“PPP Loan”) previously carried under the Paycheck Protection Program (“PPP”). On July 7, 2021, Cinedigm received notice from East West Bank PPP, the lender of the Company’s “PPP” loan, that the U.S. Small Business Administration (“SBA”) approved the forgiveness of the PPP loan in its entirety, and that East West Bank has applied the funds and paid off the principal and interest of the PPP loan in full.
Gary Loffredo, President, Chief Operating Officer & General Counsel of Cinedigm stated: “We are very pleased to receive the notice of forgiveness of our entire PPP loan and associated interest. We remain grateful for the financial support that the CARES Act provided in response to the COVID-19 pandemic. This helped Cinedigm move into a very solid position now financially with virtually no debt and a fast-growing streaming business.”.
Over the last 12 months, CIDM stock dropped by -38.92%. The average equity rating for CIDM stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $212.51 million, with 136.87 million shares outstanding and 128.27 million shares in the current float. Compared to the average trading volume of 22.79M shares, CIDM stock reached a trading volume of 10579408 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.09, with the Price to Sales ratio for CIDM stock in the period of the last 12 months amounting to 6.88. The Price to Book ratio for the last quarter was 20.67, with the Price to Cash per share for the same quarter was set at 0.15.
CIDM Stock Performance Analysis:
Cinedigm Corp. [CIDM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.88. With this latest performance, CIDM shares dropped by -27.49% in over the last four-week period, additionally plugging by 74.65% over the last 6 months – not to mention a drop of -38.92% 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 40.42, with the RSI for the last a single of trading hit 38.64, and the three-weeks RSI is set at 43.13 for Cinedigm Corp. [CIDM]. The present Moving Average for the last 50 days of trading for this stock 1.3829, while it was recorded at 1.2160 for the last single week of trading, and 1.1065 for the last 200 days.
Insight into Cinedigm Corp. Fundamentals:
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 0.80 and a Current Ratio set at 0.80.
CIDM Stock EPS
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%.
Cinedigm Corp. [CIDM] Insider Position Details
There are presently around $14 million, or 9.40% of CIDM stock, in the hands of institutional investors. The top three institutional holders of CIDM stocks are: VANGUARD GROUP INC with ownership of 4,732,948, which is approximately 243.616% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 2,061,124 shares of the stock with an approximate value of $2.56 million in CIDM stocks shares; and KORE PRIVATE WEALTH LLC, currently with $1.84 million in CIDM stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Cinedigm Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 30 institutional holders increased their position in Cinedigm Corp. [NASDAQ:CIDM] by around 6,798,930 shares. Additionally, 9 investors decreased positions by around 2,218,001 shares, while 7 investors held positions by with 2,460,304 shares. The mentioned changes placed institutional holdings at 11,477,235 shares, according to the latest SEC report filing. CIDM stock had 19 new institutional investments in for a total of 954,494 shares, while 7 institutional investors sold positions of 1,854,396 shares during the same period.