Cinedigm (NASDAQ:CIDM) Share Price Passes Above 200 Day Moving Average of $0.90

Posted by Defense World Staff on Aug 15th, 2023

Cinedigm Corp. (NASDAQ:CIDM – Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.90 and traded as high as $1.29. Cinedigm shares last traded at $1.27, with a volume of 125,517 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Cinedigm in a report on Tuesday. They issued a “hold” rating for the company.

View Our Latest Stock Report on CIDM

Cinedigm Trading Up 3.3 %

The business has a 50-day simple moving average of $1.76 and a 200 day simple moving average of $0.90. The stock has a market cap of $237.38 million, a P/E ratio of -25.40 and a beta of 2.05.

Institutional Investors Weigh In On Cinedigm

A number of institutional investors have recently made changes to their positions in CIDM. Jane Street Group LLC bought a new stake in shares of Cinedigm during the 2nd quarter valued at about $159,000. Vanguard Group Inc. raised its stake in Cinedigm by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,968,837 shares of the business services provider’s stock worth $2,751,000 after buying an additional 303,665 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Cinedigm during the 1st quarter worth approximately $108,000. Boothbay Fund Management LLC acquired a new position in Cinedigm during the 4th quarter worth approximately $43,000. Finally, Virtu Financial LLC acquired a new position in Cinedigm during the 2nd quarter worth approximately $42,000. Institutional investors own 8.03% of the company’s stock.

Cinedigm Company Profile

(Get Free Report)

Cinedigm Corp. is an independent streaming entertainment company, which engages in the marketing and distribution of movies, television, and other short form content managing a library of distribution rights. It operates through the Cinema Equipment Business, and Content and Entertainment Business (CEG) segments.