ChannelAdvisor (ECOM) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of ChannelAdvisor (NYSE:ECOM) from a sell rating to a strong sell rating in a research report report published on Friday morning.

Several other research analysts have also recently commented on the stock. Stifel Nicolaus reiterated a buy rating and issued a $13.00 target price on shares of ChannelAdvisor in a report on Friday, November 3rd. Zacks Investment Research cut shares of ChannelAdvisor from a hold rating to a sell rating in a report on Wednesday, January 3rd. Needham & Company LLC reissued a buy rating and issued a $18.00 price target on shares of ChannelAdvisor in a research report on Wednesday, November 1st. Dougherty & Co assumed coverage on shares of ChannelAdvisor in a research report on Tuesday, December 19th. They issued a neutral rating for the company. Finally, BidaskClub lowered shares of ChannelAdvisor from a hold rating to a sell rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $14.13.

ChannelAdvisor (NYSE:ECOM) opened at $9.00 on Friday. ChannelAdvisor has a fifty-two week low of $8.30 and a fifty-two week high of $14.70. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

In other ChannelAdvisor news, Director Joseph L. Cowan acquired 16,870 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were purchased at an average price of $8.48 per share, with a total value of $143,057.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Cook acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $8.80 per share, for a total transaction of $88,000.00. Following the transaction, the chief financial officer now owns 153,445 shares of the company’s stock, valued at approximately $1,350,316. The disclosure for this purchase can be found here. Insiders bought 30,000 shares of company stock valued at $257,913 over the last three months. 11.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in ChannelAdvisor during the third quarter valued at approximately $118,000. Citigroup Inc. raised its position in ChannelAdvisor by 166.6% during the second quarter. Citigroup Inc. now owns 10,818 shares of the software maker’s stock valued at $125,000 after acquiring an additional 6,760 shares in the last quarter. Voya Investment Management LLC bought a new position in ChannelAdvisor during the second quarter valued at approximately $136,000. Cubist Systematic Strategies LLC bought a new position in ChannelAdvisor during the second quarter valued at approximately $138,000. Finally, Alliancebernstein L.P. bought a new position in ChannelAdvisor during the second quarter valued at approximately $193,000. 76.15% of the stock is currently owned by hedge funds and other institutional investors.

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ChannelAdvisor Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ChannelAdvisor (NYSE:ECOM)

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