ChannelAdvisor Corp (NYSE:ECOM) Sees Large Increase in Short Interest

ChannelAdvisor Corp (NYSE:ECOM) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 777,400 shares, an increase of 38.4% from the June 30th total of 561,600 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average trading volume of 662,700 shares, the days-to-cover ratio is currently 1.2 days.

Shares of NYSE:ECOM opened at $20.37 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $15.46 and a 200-day moving average price of $11.20. The company has a market cap of $577.82 million, a price-to-earnings ratio of 75.45 and a beta of 0.91. ChannelAdvisor has a 12 month low of $4.39 and a 12 month high of $22.00.

ChannelAdvisor (NYSE:ECOM) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). ChannelAdvisor had a net margin of 5.99% and a return on equity of 9.14%. The business had revenue of $32.03 million for the quarter, compared to analysts’ expectations of $31.48 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts forecast that ChannelAdvisor will post 0.27 EPS for the current fiscal year.

In other ChannelAdvisor news, Director M Scot Wingo sold 55,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $12.39, for a total transaction of $681,450.00. Following the sale, the director now owns 403,226 shares in the company, valued at $4,995,970.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in ChannelAdvisor by 9.5% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,500 shares of the software maker’s stock valued at $83,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ChannelAdvisor by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 95,297 shares of the software maker’s stock valued at $692,000 after purchasing an additional 1,382 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in shares of ChannelAdvisor by 6.0% during the 1st quarter. Stone Ridge Asset Management LLC now owns 28,350 shares of the software maker’s stock valued at $206,000 after purchasing an additional 1,600 shares in the last quarter. Bessemer Group Inc. increased its position in shares of ChannelAdvisor by 1.9% during the first quarter. Bessemer Group Inc. now owns 114,300 shares of the software maker’s stock valued at $830,000 after buying an additional 2,100 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its stake in ChannelAdvisor by 1.8% in the first quarter. Cornercap Investment Counsel Inc. now owns 121,000 shares of the software maker’s stock worth $878,000 after buying an additional 2,182 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.

Several equities analysts recently commented on ECOM shares. Zacks Investment Research lowered shares of ChannelAdvisor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. B. Riley lifted their price objective on ChannelAdvisor from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Needham & Company LLC increased their target price on ChannelAdvisor from $16.00 to $21.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Robert W. Baird raised their price target on ChannelAdvisor from $12.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $15.40.

About ChannelAdvisor

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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