SeaChange International, Inc. (SEAC): Why Its Shares Are Down -6.67 Percent Today?

Today’s big question for investors is, “what’s going on with SeaChange International, Inc. (NASDAQ:SEAC) stock? Its price is nose-diving -0.09 points, trading at $1.26 levels, and is down -6.67% from its previous close of $1.35. The shares seem to have an active trading volume day with a reported 102544 contracts so far this session. SEAC shares had a relatively better volume day versus average trading capacity of 125.69 thousand shares, but with a 26.98 million float and a -5.59% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SEAC stock indicates that the average analyst price target is $1.5 per share. This means the stock has a potential increase of 19.05% from where the SEAC share price has been trading recently which is between $1.2944 and $1.4. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.25.

The shorts are climbing into SeaChange International, Inc. (SEAC) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in SEAC shares. While short interest still represents only 0.43% of SEAC’s float, the number of shares shorted have risen by 26118. The number of shares shorted advanced to 141123 shares, up from 115005 shares during the preceding fortnight. With average daily trading volumes at 95372 shares, days to cover decreased to about 1.897522 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of SEAC earnings conference call or presentation 6-Jun-19 9:00pm GMT” and dated June 17, 2019.

During the recent trading session for SeaChange International, Inc. (NASDAQ:SEAC), the company witnessed their stock drop by $-0.19 over a week and surge $0.09 from the price 20 days ago. When compared to their established 52-week high of $3.47, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/29/18. The recent low of $1.13 stood for a -63.69% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.87 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for SeaChange International, Inc., the two-week RSI stands at 45.07. This figure suggests that SEAC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SEAC readings is similarly very revealing as it has a stochastic reading of 40.65% at this stage. This figure means that SEAC share price today is being neutral.

Technical chart claims that SeaChange International, Inc. (SEAC) would settle between $1.4/share to $1.45/share level. However, if the stock price goes below the $1.3 mark, then the market for SeaChange International, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.24 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Dougherty & Company lowered their recommendation on shares of SEAC from Buy to Neutral in their opinion released on February 26. Lake Street analysts bumped their rating on SeaChange International, Inc. (NASDAQ:SEAC) stock from Hold to Buy in a separate flash note issued to investors on December 07. Analysts at Dougherty & Company are sticking to their Buy stance. However, on December 07, they lifted price target for these shares to $4.50 from $4.

SEAC equity has an average rating of 3, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated SeaChange International, Inc. (NASDAQ:SEAC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, SEAC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.88 while for the average stock in the same group, the multiple is 9.84.