Cinedigm Corp (CIDM) : Traders are bullish on Cinedigm Corp (CIDM) as it has outperformed the S&P 500 by a wide margin of 11.46% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 44.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 46.21% in the last 1 week, and is up 16.33% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 31.22% and the 50-Day Moving Average is 28.21%.
Cinedigm Corp (NASDAQ:CIDM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.30 and $1.10 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.59, notching a gain of 77.06% for the day. The total traded volume was 3,441,627 . The stock had closed at $0.90 on the previous day.
The company Insiders own 14.2% of Cinedigm Corp shares according to the proxy statements.
Cinedigm Corp. is a distributor and aggregator of independent movie, television and other short form content. The Company operates in four segments: the first digital cinema deployment (Phase I Deployment), the second digital cinema deployment (Phase II Deployment), digital cinema services (Services), and media content and entertainment group (Content & Entertainment or CEG). The Phase I Deployment and Phase II Deployment segments are the non-recourse, financing vehicles and administrators for its digital cinema equipment installed in movie theatres. CEG focuses its activities in the areas of ancillary market aggregation and distribution of entertainment content; and branded and curated over-the-top digital network business. The Companys Services segment provides fee-based support movie screens in its Phase I Deployment and Phase II Deployment segments in the form of monitoring, billing, collection and verification services.