Price Action Alert: What’s Next for SeaChange International After Achieving 52-Week Low?

Price Action Alert: What's Next for SeaChange International After Achieving 52 Week Low?

The stock of SeaChange International (NASDAQ:SEAC) hit a new 52-week low and has $2.14 target or 14.00% below today’s $2.49 share price. The 7 months bearish chart indicates high risk for the $87.61 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.14 price target is reached, the company will be worth $12.27 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 13,394 shares traded hands. SeaChange International (NASDAQ:SEAC) has declined 53.47% since April 1, 2016 and is downtrending. It has underperformed by 54.68% 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 firm earned “Hold” rating on Friday, July 24 by Drexel Hamilton. The stock has “Hold” rating given by Lake Street on Tuesday, August 23. The firm earned “Hold” rating on Friday, April 8 by Noble Financial. Dougherty & Company maintained SeaChange International (NASDAQ:SEAC) rating on Wednesday, August 24. Dougherty & Company has “Buy” rating and $6 price target.

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 2016 Q2. Its down 0.22, from 1.05 in 2016Q1. The ratio turned negative, 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.
Sei Invs has 0% invested in the company for 7,400 shares. State Street Corp has 0% invested in the company for 42,401 shares. Jpmorgan Chase, a New York-based fund reported 26,976 shares. Jacobs Levy Equity Mgmt holds 0.01% of its portfolio in SeaChange International (NASDAQ:SEAC) for 138,700 shares. Natl Bank Of New York Mellon has invested 0% of its portfolio in SeaChange International (NASDAQ:SEAC). Moreover, Eidelman Virant has 0.25% invested in SeaChange International (NASDAQ:SEAC) for 127,900 shares. Art Ltd holds 0.01% of its portfolio in SeaChange International (NASDAQ:SEAC) for 84,686 shares. Blackrock Advsr Limited Liability Company holds 0% or 7,106 shares in its portfolio. Moreover, Manufacturers Life Company The has 0% invested in SeaChange International (NASDAQ:SEAC) for 252 shares. Wells Fargo & Mn has 0% invested in the company for 63 shares. Ameriprise Financial Inc accumulated 0% or 339,401 shares. The New York-based Morgan Stanley has invested 0% in SeaChange International (NASDAQ:SEAC). Pnc Gru holds 0% or 69 shares in its portfolio. D E Shaw & Com holds 0% or 28,148 shares in its portfolio. Credit Suisse Ag holds 120,213 shares or 0% of its portfolio.

Insider Transactions: Since June 10, 2016, the stock had 1 insider purchase, and 0 selling transactions for $83,993 net activity. The insider Cotton Mary Palermo bought 25,000 shares worth $83,993.

More notable recent SeaChange International (NASDAQ:SEAC) news were published by: Metrowestdailynews.com which released: “Seachange International Inc. reports revenue CQ” on June 11, 2016, also Metrowestdailynews.com with their article: “SeaChange International Inc. introduces new multiscreen video” published on June 29, 2016, Bizjournals.com published: “Tech firm ousts CEO as net loss nearly doubles” on April 08, 2016. More interesting news about SeaChange International (NASDAQ:SEAC) were released by: Seekingalpha.com and their article: “SeaChange International’s (SEAC) CEO Ed Terino on Q2 2017 Results – Earnings …” published on September 02, 2016 as well as Zacks.com‘s news article titled: “Why SeaChange International (SEAC) Could Be a Potential Winner” with publication date: April 27, 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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