ChannelAdvisor Corporation (NYSE:ECOM) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $8.35 and last traded at $8.50, with a volume of 100600 shares. The stock had previously closed at $8.50.
Several research analysts have commented on ECOM shares. Stifel Nicolaus restated a “buy” rating and set a $13.00 price objective on shares of ChannelAdvisor Corporation in a report on Friday, November 3rd. First Analysis upgraded ChannelAdvisor Corporation from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Thursday, August 31st. KeyCorp restated a “hold” rating on shares of ChannelAdvisor Corporation in a report on Friday, August 25th. BidaskClub downgraded ChannelAdvisor Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 price objective on shares of ChannelAdvisor Corporation in a report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $14.13.
The company has a debt-to-equity ratio of 0.01, a current ratio of 1.94 and a quick ratio of 1.94.
ChannelAdvisor Corporation (NYSE:ECOM) last announced its quarterly earnings results on Thursday, November 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. ChannelAdvisor Corporation had a negative return on equity of 9.48% and a negative net margin of 8.54%. The business had revenue of $30.10 million for the quarter, compared to the consensus estimate of $30.08 million. During the same period last year, the business posted ($0.12) EPS. The business’s revenue was up 7.5% compared to the same quarter last year. research analysts predict that ChannelAdvisor Corporation will post -0.58 earnings per share for the current fiscal year.
In other news, insider M Scot Wingo sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $10.41, for a total value of $156,150.00. Following the completion of the sale, the insider now owns 837,896 shares of the company’s stock, valued at approximately $8,722,497.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Cook acquired 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average cost of $8.80 per share, with a total value of $88,000.00. Following the transaction, the chief financial officer now directly owns 153,445 shares in the company, valued at $1,350,316. The disclosure for this purchase can be found here. Insiders sold a total of 45,000 shares of company stock worth $512,550 over the last quarter. Company insiders own 11.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in ChannelAdvisor Corporation during the 2nd quarter worth about $26,368,000. Geode Capital Management LLC lifted its position in ChannelAdvisor Corporation by 7.3% during the 1st quarter. Geode Capital Management LLC now owns 176,351 shares of the software maker’s stock worth $1,965,000 after acquiring an additional 11,937 shares during the period. Bank of New York Mellon Corp lifted its position in ChannelAdvisor Corporation by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 138,500 shares of the software maker’s stock worth $1,544,000 after acquiring an additional 7,208 shares during the period. OxFORD Asset Management LLP acquired a new stake in ChannelAdvisor Corporation during the 2nd quarter worth about $412,000. Finally, Archon Capital Management LLC lifted its position in ChannelAdvisor Corporation by 42.5% during the 2nd quarter. Archon Capital Management LLC now owns 588,510 shares of the software maker’s stock worth $6,797,000 after acquiring an additional 175,467 shares during the period. 80.77% of the stock is owned by institutional investors.
About ChannelAdvisor Corporation
Channeladvisor Corporation is a provider of Software as a service (SaaS) solutions. The Company’s SaaS solutions enable retailer and branded manufacturer customers to integrate, manage and optimize their merchandise sales via hundreds of online channels. The Company’s platform enable its customers to connect with new and existing sources of demand for their products, including e-commerce marketplaces, such as Amazon, eBay, Jet.com, Newegg, Sears and Walmart, search engines and comparison shopping Websites, such as Google, Microsoft’s Bing and Nextag, and social channels, such as Facebook, Instagram and Pinterest.
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