ChannelAdvisor Corp (NYSE:ECOM) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 74,500 shares, a decline of 10.9% from the December 15th total of 83,600 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 109,300 shares, the days-to-cover ratio is currently 0.7 days.
In related news, Chairman M Scot Wingo sold 10,000 shares of ChannelAdvisor stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $9.01, for a total value of $90,100.00. Following the transaction, the chairman now directly owns 577,115 shares of the company’s stock, valued at $5,199,806.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 35,274 shares of company stock worth $318,819. 8.10% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of ChannelAdvisor by 236.2% in the 2nd quarter. Bank of Montreal Can now owns 3,180 shares of the software maker’s stock worth $28,000 after buying an additional 2,234 shares during the period. Meeder Asset Management Inc. grew its position in shares of ChannelAdvisor by 316.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,712 shares of the software maker’s stock worth $43,000 after buying an additional 3,581 shares during the period. Prudential Financial Inc. purchased a new stake in shares of ChannelAdvisor in the 2nd quarter worth about $113,000. State of Tennessee Treasury Department purchased a new stake in shares of ChannelAdvisor in the 3rd quarter worth about $115,000. Finally, Mackay Shields LLC purchased a new stake in shares of ChannelAdvisor in the 3rd quarter worth about $137,000. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:ECOM traded up $0.22 during midday trading on Thursday, reaching $10.13. The company’s stock had a trading volume of 15,462 shares, compared to its average volume of 76,405. The firm has a 50 day moving average of $9.23 and a 200-day moving average of $9.19. The firm has a market capitalization of $273.85 million, a P/E ratio of -38.96 and a beta of 0.37. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.12. ChannelAdvisor has a 12-month low of $8.01 and a 12-month high of $13.83.
ChannelAdvisor (NYSE:ECOM) last released its earnings results on Thursday, November 7th. The software maker reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.04. The firm had revenue of $31.68 million for the quarter, compared to the consensus estimate of $31.73 million. ChannelAdvisor had a negative net margin of 1.02% and a positive return on equity of 0.25%. On average, research analysts predict that ChannelAdvisor will post 0.08 EPS for the current year.
A number of brokerages have issued reports on ECOM. Zacks Investment Research raised shares of ChannelAdvisor from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday. First Analysis reissued a “buy” rating and set a $11.00 price objective on shares of ChannelAdvisor in a research report on Sunday, January 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.50.
ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. Its e-commerce cloud platform helps brands and retailers to improve their online performance by expanding sales channels, connecting with consumers around the world, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness.
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