Cinedigm (NASDAQ:CIDM) Given a $3.00 Price Target at Canaccord Genuity

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Cinedigm (NASDAQ:CIDM) has been given a $3.00 target price by research analysts at Canaccord Genuity in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 145.90% from the company’s previous close.

Separately, ValuEngine raised shares of China Southern Airlines from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th.

Shares of NASDAQ CIDM remained flat at $$1.22 on Friday. 17,744 shares of the company’s stock were exchanged, compared to its average volume of 82,937. Cinedigm has a fifty-two week low of $0.48 and a fifty-two week high of $2.06. The stock has a 50 day simple moving average of $1.37. The firm has a market cap of $43.58 million, a PE ratio of -1.51 and a beta of 1.43.

An institutional investor recently bought a new position in Cinedigm stock. Bailard Inc. bought a new stake in shares of Cinedigm Corp (NASDAQ:CIDM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,100 shares of the business services provider’s stock, valued at approximately $88,000. Bailard Inc. owned approximately 0.13% of Cinedigm as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 7.65% of the company’s stock.

Cinedigm Company Profile

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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