Short Interest in SeaChange International, Inc. (NASDAQ:SEAC) Expands By 29.2%

SeaChange International, Inc. (NASDAQ:SEAC – Get Rating) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 7,250,000 shares, an increase of 29.2% from the March 31st total of 5,610,000 shares. Currently, 18.2% of the company’s stock are sold short. Based on an average trading volume of 3,140,000 shares, the short-interest ratio is presently 2.3 days.

SEAC has been the subject of several recent analyst reports. StockNews.com lowered shares of SeaChange International from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Zacks Investment Research downgraded shares of SeaChange International from a “buy” rating to a “hold” rating in a research report on Thursday, February 3rd.

Large investors have recently modified their holdings of the stock. Cetera Investment Advisers bought a new stake in SeaChange International in the 4th quarter valued at about $47,000. Renaissance Technologies LLC lifted its position in SeaChange International by 113.0% in the 4th quarter. Renaissance Technologies LLC now owns 49,000 shares of the software maker’s stock valued at $78,000 after purchasing an additional 26,000 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of SeaChange International during the 4th quarter worth about $92,000. Goldman Sachs Group Inc. bought a new stake in shares of SeaChange International during the 4th quarter worth about $100,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of SeaChange International during the 4th quarter worth about $129,000. Hedge funds and other institutional investors own 22.50% of the company’s stock.

Shares of NASDAQ:SEAC opened at $1.05 on Monday. The company’s 50-day moving average price is $1.18 and its 200 day moving average price is $1.18. SeaChange International has a fifty-two week low of $0.66 and a fifty-two week high of $3.44.

SeaChange International (NASDAQ:SEAC – Get Rating) last issued its quarterly earnings data on Friday, April 8th. The software maker reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. SeaChange International had a negative net margin of 27.21% and a negative return on equity of 13.76%.

About SeaChange International (Get Rating)

SeaChange International, Inc provides multiscreen, advertising, and premium over the top (OTT) video products and services that facilitate the aggregation, licensing, management, and distribution of video and advertising content worldwide. The company offers video products, including video back-office, a software platform that enables content and service providers to manage, monetize and deliver a seamless viewing experience to subscribers across televisions, personal computers (PCs), tablets, smart phones, and other IP-enabled devices; and media asset management software, which is used to receive, manage and publish video content for viewing on televisions, tablets, PCs and other consumer devices.

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