It is currently trading at $1.22 which is quite a bit below $1.41, the stock’s 50 day moving average and quite a bit below the 200 day moving average of $1.57. The 50 day moving average was down $-0.19 whereas the 200 day average was down by -22.48%. Trading was light with 35K shares changing hands on Tuesday. Volume was down 78.72% under the stocks average daily volume.
Traders are feeling more bullish on shares of the company recently if you evaluate the downtick in short interest. The firm realized a fall in short interest of -7.22% as of the latest report on October 13, 2017. Short interest decreased from 390,200 to 362,018 over that timeframe. The days to cover decreased to 2.0 and the percentage of shorted shares is 0.03% as of October 13.
Additionally, here are a few investment firms who have increased or decreased their stake in (CIDM). Boothbay Fund Management, LLC reduced its holdings by shedding 31,528 shares a decrease of 60.4% in the quarter. Boothbay Fund Management, LLC now controls 20,705 shares with a value of $34,000. The value of the position overall is down by 60.0%. Acadian Asset Management LLC grew its stake by buying 4,013 shares an increase of 40.6% as of 09/30/2017. Acadian Asset Management LLC currently owns 13,897 shares worth $20,000. The total value of its holdings increased 17.6%.
Cinedigm Corp., launched on March 31, 2000, is a distributor and aggregator of independent movie, television and other short form content managing a library of distribution rights to a range of titles and episodes released across digital, physical, and home and mobile entertainment platforms. As of March 31, 2016, the Company was a servicer of digital cinema assets on over 12,000 domestic and foreign movie screens. The Company operates through 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). The Phase I Deployment and Phase II Deployment segments are the non-recourse, financing vehicles and administrators for its digital cinema equipment (the Systems) installed in movie theatres throughout the United States and Canada, and in Australia and New Zealand. As of March 31, 2016, the Business’s Services segment provided fee-based support to over 12,000 movie screens in its Phase I Deployment and Phase II Deployment segments, as well as directly to exhibitors and other third-party customers. Its Content & Entertainment segment is involved in ancillary market aggregation and distribution of entertainment content, and branded and curated over-the-top (OTT) digital network business providing entertainment channels and applications..Advertisement