SeaChange International Inc. (SEAC) Sees Large Volume Increase
Shares of SeaChange International Inc. (NASDAQ:SEAC) saw strong trading volume on Friday . 249,921 shares traded hands during 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 analysts have recently issued reports on the company. Zacks Investment Research downgraded SeaChange International from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Lake Street Capital downgraded SeaChange International from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.50 to $3.00 in a research note on Tuesday, August 23rd. Finally, Dougherty & Co decreased their price target on SeaChange International from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.69.
The firm’s market capitalization is $102.30 million. The firm’s 50 day moving average is $3.16 and its 200 day moving average is $3.95.
SeaChange International (NASDAQ:SEAC) last released its quarterly earnings results on Thursday, September 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.21). The firm earned $18.50 million during the quarter. During the same quarter last year, the company earned ($0.04) earnings per share. SeaChange International’s revenue for the quarter was down 33.7% on a year-over-year basis. Analysts forecast that SeaChange International Inc. will post ($0.47) earnings per share for the current year.
In other news, Director Mary Palermo Cotton purchased 25,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $3.36 per share, with a total value of $84,000.00. Following the purchase, the director now directly owns 151,733 shares of the company’s stock, valued at approximately $509,822.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas F. Olson purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was purchased at an average cost of $3.40 per share, for a total transaction of $34,000.00. Following the purchase, the director now directly owns 167,121 shares in the company, valued at $568,211.40. 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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