Cinedigm (NASDAQ:CIDM) Stock Rating Upgraded by ValuEngine

Cinedigm (NASDAQ:CIDM) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Separately, Canaccord Genuity set a $3.00 price objective on shares of Cinedigm and gave the company a “buy” rating in a research report on Friday, July 19th.

Shares of CIDM traded up $0.06 during trading hours on Thursday, hitting $1.12. The company had a trading volume of 9,434 shares, compared to its average volume of 28,671. The stock has a fifty day moving average price of $1.28. Cinedigm has a 12 month low of $0.48 and a 12 month high of $2.06.

A hedge fund recently bought a new stake in Cinedigm stock. Bailard Inc. bought a new stake in Cinedigm Corp (NASDAQ:CIDM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 46,100 shares of the business services provider’s stock, valued at approximately $88,000. Bailard Inc. owned 0.13% of Cinedigm as of its most recent SEC filing. 7.63% of the stock is owned by hedge funds and other institutional investors.

About Cinedigm

Cinedigm Corp., together with its subsidiaries, operates as distributor and aggregator of independent movie, television, and other short form content primarily in the United States. The company operates through four segments: The First Digital Cinema Deployment, The Second Digital Cinema Deployment, Digital Cinema Services, and Media Content and Entertainment Group.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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