Cinedigm Corp (NASDAQ:CIDM) traded at a new 52-week high today of $2.46. Approximately 9.4 million shares have changed hands today, as compared to an average 30-day volume of 12.4 million shares.
Over the past year, Cinedigm Corp has traded in a range of $0.45 to $2.46 and is now at $2.46, 447% above that low.
Cinedigm Corp has been a leader at the forefront of the digital transformation of content distribution. The company is focused on providing content, channels, and services to the media, technology, and retail companies. Cinedigm's Content and Networks groups provide original and aggregated programming, channels, and services that entertain consumers globally across hundreds of millions of devices. Its business segments are Cinema equipment business and Media content and entertainment business. The firm generates a majority of its revenue from the Media content and entertainment business.
Potential upside of 76.2% exists for Cinedigm Corp, based on a current level of $2.46 and analysts' average consensus price target of $4.33.
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