SeaChange International Inc. (SEAC) Sees Unusually-High Trading Volume
Shares of SeaChange International Inc. (NASDAQ:SEAC) saw unusually-strong trading volume on Friday . Approximately 249,921 shares changed hands during mid-day trading, a decline of 3% from the previous session’s volume of 257,305 shares.The stock last traded at $2.87 and had previously closed at $2.76.
Several research analysts have recently issued reports on SEAC shares. Lake Street Capital lowered shares of SeaChange International from a “buy” rating to a “hold” rating and reduced their target price for the company from $4.50 to $3.00 in a research note on Tuesday, August 23rd. Dougherty & Co reduced their target price on shares of SeaChange International from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Finally, Zacks Investment Research lowered shares of SeaChange International from a “hold” rating to a “sell” rating in a research note on Friday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.95.
The firm has a 50-day moving average of $3.16 and a 200-day moving average of $3.95. The stock’s market cap is $102.30 million.
SeaChange International (NASDAQ:SEAC) last issued its earnings results on Thursday, September 1st. The company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The business had revenue of $18.50 million for the quarter. The company’s quarterly revenue was down 33.7% on a year-over-year basis. During the same period last year, the firm posted ($0.04) earnings per share. On average, equities research analysts forecast that SeaChange International Inc. will post ($0.46) earnings per share for the current fiscal year.
In other SeaChange International news, Director Thomas F. Olson bought 10,000 shares of the stock in a transaction on Thursday, June 16th. The stock was purchased at an average price of $3.40 per share, with a total value of $34,000.00. Following the completion of the purchase, the director now owns 167,121 shares in the company, valued at $568,211.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Palermo Cotton bought 25,000 shares of the stock in a transaction on Friday, June 10th. The shares were acquired at an average cost of $3.36 per share, with a total value of $84,000.00. Following the purchase, the director now owns 151,733 shares of the company’s stock, valued at approximately $509,822.88. The disclosure for this purchase can be found here.
SeaChange International, Inc (SeaChange) is engaged in the delivery of multiscreen video. The Company’s products and services facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies.
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