Home / Market Movers / Services Sector Gets a Lift from 7.39% Morning Gain for Cinedigm Corp (CIDM) on September 23

Services Sector Gets a Lift from 7.39% Morning Gain for Cinedigm Corp (CIDM) on September 23

Cinedigm Corp (CIDM) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the services sector during morning trading on September 23. At the lunch break, shares of CIDM have tacked on 7.39% to $2.18 after closing the day prior at $2.03. In the first two and a half hours of trading, the stock has gone as high as $2.2 and as low as $2.02. Today’s rise has come with about 38,271 shares changing hands, compared to an average 30-day volume of 92,328 for Cinedigm Corp. The price is currently below the 30-day volume weighted average price of $2.14 for CIDM.

The share appreciation gives the company a market capitalization of $17.14 million based upon 8.44 million shares outstanding. It also means that CIDM has a price-to-book ratio of 30.3:1.

In the past 52 weeks, shares of CIDM have traded as low as $0.9 and as high as $7.001. Technical traders will take note that at $2.18, shares of CIDM are trading above their 200-day MA at $2.08 and above their 50-day MA at $1.8. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is CIDM?

Cinedigm Corp is a distributor of movie & television & servicer of digital cinema assets in both North America & other international countries. Its four segments are Phase I Deployment, Phase II Deployment, Services, & Content & Entertainment. The company’s 126 employees are led by CEO Christopher J. McGurk from the corporate headquarters at 902 Broadway in New York, NY.


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