Zacks Investment Research upgraded shares of SeaChange International, Inc. (NASDAQ:SEAC) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $3.00 target price on the software maker’s stock.

According to Zacks, “SeaChange International, Inc. develops, markets and supports products to manage, store and distribute digital video for television operators, broadcast and telecommunications companies. The company’s products utilize its proprietary distributed application software and standard industry components to automate the management and distribution of short- and long-form video streams including advertisements, movies, news updates and other video programming requiring precise, accurate and continuous execution. “

Separately, ValuEngine raised shares of SeaChange International from a strong sell rating to a sell rating in a research report on Thursday, June 8th.

SeaChange International (NASDAQ:SEAC) traded up 1.52% during midday trading on Wednesday, reaching $2.68. 64,325 shares of the company’s stock traded hands. The company’s 50-day moving average price is $2.68 and its 200-day moving average price is $2.57. SeaChange International has a 52-week low of $2.05 and a 52-week high of $3.10. The stock’s market cap is $95.10 million.

SeaChange International (NASDAQ:SEAC) last announced its quarterly earnings results on Wednesday, September 6th. The software maker reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The business had revenue of $17.20 million during the quarter, compared to analysts’ expectations of $17.94 million. SeaChange International had a negative net margin of 54.54% and a negative return on equity of 15.80%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) EPS. On average, equities analysts predict that SeaChange International will post $0.01 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ariel Investments LLC boosted its position in SeaChange International by 11.7% during the 1st quarter. Ariel Investments LLC now owns 4,616,607 shares of the software maker’s stock valued at $11,449,000 after buying an additional 484,329 shares during the period. VIEX Capital Advisors LLC boosted its position in SeaChange International by 18.5% during the 1st quarter. VIEX Capital Advisors LLC now owns 3,875,956 shares of the software maker’s stock valued at $9,612,000 after buying an additional 604,406 shares during the period. Neuberger Berman Group LLC boosted its position in SeaChange International by 4.7% during the 1st quarter. Neuberger Berman Group LLC now owns 2,485,409 shares of the software maker’s stock valued at $6,164,000 after buying an additional 112,116 shares during the period. Renaissance Technologies LLC boosted its position in SeaChange International by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 968,900 shares of the software maker’s stock valued at $2,403,000 after buying an additional 57,776 shares during the period. Finally, Vanguard Group Inc. boosted its position in SeaChange International by 37.4% during the 2nd quarter. Vanguard Group Inc. now owns 885,728 shares of the software maker’s stock valued at $2,356,000 after buying an additional 240,917 shares during the period. 71.76% of the stock is owned by institutional investors and hedge funds.

About SeaChange International

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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