Shares of Cinedigm Corp (NASDAQ:CIDM) traded today at $2.90, eclipsing its 52-week high. This new high was reached on approximately average trading volume as 9.4 million shares traded hands, while the average 30-day volume is approximately 8.9 million shares.
In the past 52 weeks, Cinedigm Corp share prices are bracketed by a low of $0.45 and a high of $2.90 and is now at $2.89, 542% above that low price.
Potential upside of 71.2% exists for Cinedigm Corp, based on a current level of $2.89 and analysts' average consensus price target of $4.95.
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.
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