Noteworthy Price Action: Could SeaChange International See a Reversal After Breaking Its 52 Week Low?

Noteworthy Price Action: Could SeaChange International See a Reversal After Breaking Its 52 Week Low?

The stock of SeaChange International (NASDAQ:SEAC) hit a new 52-week low and has $2.29 target or 13.00% below today’s $2.63 share price. The 5 months bearish chart indicates high risk for the $90.51M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $2.29 price target is reached, the company will be worth $11.77 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 33,437 shares traded hands. SeaChange International (NASDAQ:SEAC) has declined 51.18% since March 10, 2016 and is downtrending. It has underperformed by 58.70% the S&P500.

SeaChange International (NASDAQ:SEAC) Ratings Coverage

Out of 4 analysts covering SeaChange International (NASDAQ:SEAC), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. SeaChange International has been the topic of 4 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was initiated by Drexel Hamilton on Friday, July 24 with “Hold”. As per Friday, April 8, the company rating was downgraded by Noble Financial. Lake Street downgraded SeaChange International (NASDAQ:SEAC) on Tuesday, August 23 to “Hold” rating. On Wednesday, August 24 the stock rating was maintained by Dougherty & Company with “Buy”.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.22, from 1.05 in 2016Q1. The ratio worsened, as 25 funds sold all SeaChange International shares owned while 27 reduced positions. 21 funds bought stakes while 22 increased positions. They now own 29.70 million shares or 6.80% less from 31.86 million shares in 2016Q1.
Citigroup has 0% invested in the company for 1,720 shares. Fuller & Thaler Asset Mgmt has 455,803 shares for 0.02% of their US portfolio. Nationwide Fund Advsr accumulated 96,575 shares or 0% of the stock. Credit Suisse Ag last reported 0% of its portfolio in the stock. The Massachusetts-based Geode Capital Mgmt Ltd Llc has invested 0% in SeaChange International (NASDAQ:SEAC). Ariel Limited Liability Corporation holds 4.10 million shares or 0.16% of its portfolio. Alpine Prns Vi Ltd has 0.07% invested in the company for 46,186 shares. California Public Employees Retirement holds 0% or 252,900 shares in its portfolio. Creative Planning last reported 1,000 shares in the company. Moreover, Goldman Sachs Inc has 0% invested in SeaChange International (NASDAQ:SEAC) for 61,473 shares. Tower Rech Capital Lc (Trc) has 15,496 shares for 0% of their US portfolio. Moreover, Laurion Mgmt Lp has 0.01% invested in SeaChange International (NASDAQ:SEAC) for 106,500 shares. Connors Investor Services holds 0.25% of its portfolio in SeaChange International (NASDAQ:SEAC) for 396,420 shares. Wells Fargo & Mn owns 63 shares or 0% of their US portfolio. Susquehanna Intll Gru Limited Liability Partnership, a Pennsylvania-based fund reported 32,827 shares.

Insider Transactions: Since June 10, 2016, the stock had 1 insider buy, and 0 insider sales for $83,993 net activity. Another trade for 25,000 shares valued at $83,993 was bought by Cotton Mary Palermo.

More notable recent SeaChange International (NASDAQ:SEAC) news were published by: Metrowestdailynews.com which released: “SeaChange International Inc. announces appointment” on July 10, 2016, also Metrowestdailynews.com with their article: “Seachange International Inc. reports revenue CQ” published on June 11, 2016, Reuters.com published: “BRIEF-Viex Capital Advisors reports 5.5 pct stake in Seachange Internation…” on September 12, 2016. More interesting news about SeaChange International (NASDAQ:SEAC) were released by: Metrowestdailynews.com and their article: “SeaChange International Inc. introduces new multiscreen video” published on June 29, 2016 as well as Bizjournals.com‘s news article titled: “Tech firm ousts CEO as net loss nearly doubles” with publication date: April 08, 2016.

SEAC Company Profile

SeaChange International, Inc. (SeaChange), incorporated on July 9, 1993, is engaged in the delivery of multiscreen video. The Company’s services and products facilitate the aggregation, licensing, management and distribution of video and advertising content for cable television system operators, telecommunications companies, satellite operators and media companies. SeaChange sells its software services and products across the world, primarily to television service providers, including cable television system operators, telecommunications companies, satellite operators and media companies. The Company’s systems enable service providers to offer other interactive television services that allow subscribers to receive personalized services and interact with their video devices. The Company’s business consists of three product areas: multiscreen video backoffice, advertising and video gateway software solutions. The Company’s advertising includes SeaChange Infusion Advanced Advertising Platform.

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