In a report issued on October 16, Brian Kinstlinger from Alliance Global Partners initiated coverage with a Buy rating on Cinedigm (CIDM – Research Report) and a price target of $2.00. The company’s shares closed last Friday at $0.60, close to its 52-week low of $0.25.
According to TipRanks.com, Kinstlinger is a 1-star analyst with an average return of -0.6% and a 52.6% success rate. Kinstlinger covers the Technology sector, focusing on stocks such as Rada Electronics Industries, Mohawk Group Holdings, and Inuvo.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cinedigm with a $2.00 average price target.
The company has a one-year high of $6.00 and a one-year low of $0.25. Currently, Cinedigm has an average volume of 3.55M.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CIDM in relation to earlier this year.
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Cinedigm Corp. engages in the marketing and distribution of movie, television, and other short form content managing a library of distribution rights. It operates through the segments; Cinema Equipment Business, and Content and Entertainment Business (CEG). The Cinema Equipment Business segment consists of the non-recourse, financing vehicles, and administrators. The Content and Entertainment Business refers to ancillary market aggregation and distribution of entertainment content and, branded and over-the-top (OTT) digital network business providing entertainment channels and applications. The company was founded by A. Dale Mayo on March 31, 2000 and is headquartered in New York, NY.