ChannelAdvisor Corp (NYSE:ECOM) Sees Significant Decline in Short Interest

ChannelAdvisor Corp (NYSE:ECOM) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 221,700 shares, a decline of 5.7% from the August 30th total of 235,000 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 85,600 shares, the short-interest ratio is currently 2.6 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of ChannelAdvisor by 8.5% during the 2nd quarter. BlackRock Inc. now owns 1,844,294 shares of the software maker’s stock worth $16,156,000 after acquiring an additional 145,212 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ChannelAdvisor by 8.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,404,036 shares of the software maker’s stock worth $12,300,000 after acquiring an additional 115,238 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of ChannelAdvisor by 23.9% during the 2nd quarter. Renaissance Technologies LLC now owns 384,200 shares of the software maker’s stock worth $3,366,000 after acquiring an additional 74,100 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of ChannelAdvisor by 189.2% during the 2nd quarter. AQR Capital Management LLC now owns 230,103 shares of the software maker’s stock worth $2,016,000 after acquiring an additional 150,531 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of ChannelAdvisor by 16.7% during the 2nd quarter. Acadian Asset Management LLC now owns 224,778 shares of the software maker’s stock worth $1,969,000 after acquiring an additional 32,200 shares in the last quarter. Institutional investors own 81.37% of the company’s stock.

NYSE ECOM traded up $0.17 on Thursday, hitting $9.31. 1,738 shares of the company’s stock were exchanged, compared to its average volume of 64,426. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day moving average price is $9.17 and its two-hundred day moving average price is $9.73. ChannelAdvisor has a fifty-two week low of $8.01 and a fifty-two week high of $13.83. The firm has a market cap of $251.82 million, a price-to-earnings ratio of -35.77 and a beta of 0.38.

ChannelAdvisor (NYSE:ECOM) last released its earnings results on Thursday, August 8th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. ChannelAdvisor had a negative return on equity of 5.35% and a negative net margin of 4.09%. The company had revenue of $31.93 million for the quarter, compared to analysts’ expectations of $31.71 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that ChannelAdvisor will post 0.04 earnings per share for the current fiscal year.

ECOM has been the topic of several recent research reports. Zacks Investment Research cut ChannelAdvisor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 9th. B. Riley set a $12.00 price target on ChannelAdvisor and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, ValuEngine upgraded ChannelAdvisor from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $11.01.

ChannelAdvisor Company Profile

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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