Traders Are Bullish ChannelAdvisor Corporation (ECOM) After The Stock Formed Double Top Chart Pattern

September 8, 2018 - By Catherine Diaz

ChannelAdvisor Corporation (NYSE:ECOM) Logo

Investors sentiment decreased to 0.68 in Q1 2018. Its down 0.25, from 0.93 in 2017Q4. It dived, as 14 investors sold ChannelAdvisor Corporation shares while 26 reduced holdings. 8 funds opened positions while 19 raised stakes. 19.02 million shares or 2.55% less from 19.52 million shares in 2017Q4 were reported.
Moreover, Rhumbline Advisers has 0% invested in ChannelAdvisor Corporation (NYSE:ECOM). Stone Ridge Asset Mgmt Ltd Llc owns 20,472 shares. 313,626 are owned by Northern. 9,670 are owned by Cubist Systematic Strategies. Tower Research Capital Limited Company (Trc) holds 0.01% or 16,590 shares. Great West Life Assurance Co Can reported 5,693 shares or 0% of all its holdings. Products Partners Limited Liability Corporation owns 0.01% invested in ChannelAdvisor Corporation (NYSE:ECOM) for 27,731 shares. Bancorporation Of Montreal Can reported 0% of its portfolio in ChannelAdvisor Corporation (NYSE:ECOM). 542,777 are owned by Cortina Asset Mngmt Limited Liability Co. Shapiro Capital Mgmt Limited Liability Company accumulated 4.06 million shares. Clarivest Asset Management Ltd Liability Corporation reported 13,982 shares. State Street Corporation stated it has 0% of its portfolio in ChannelAdvisor Corporation (NYSE:ECOM). Vanguard Grp has 1.18 million shares. The Ontario – Canada-based Manufacturers Life Ins The has invested 0% in ChannelAdvisor Corporation (NYSE:ECOM). D E Shaw & owns 518,233 shares for 0.01% of their portfolio.

Since March 16, 2018, it had 0 insider buys, and 6 insider sales for $1.94 million activity. Cornetta Richard had sold 11,000 shares worth $160,013 on Monday, June 11. 2,400 shares valued at $35,160 were sold by Cowell Janet Raye on Wednesday, May 16.

The chart of ChannelAdvisor Corporation (ECOM) shows a double top with $12.58 target or 4.00 % above today’s $12.10 share price. The 9 months chart pattern indicates low risk for the $330.12 million company. It was reported on Sep, 8 by Finviz.com. If the $12.58 price target is reached, the company will be worth $13.20M more. Double tops are rare but powerful chart patterns.

The stock increased 2.11% or $0.25 during the last trading session, reaching $12.1. About 69,860 shares traded. ChannelAdvisor Corporation (NYSE:ECOM) has risen 26.09% since September 8, 2017 and is uptrending. It has outperformed by 13.52% the S&P500.

Analysts await ChannelAdvisor Corporation (NYSE:ECOM) to report earnings on November, 1. They expect $-0.14 EPS, up 6.67 % or $0.01 from last year’s $-0.15 per share. After $-0.10 actual EPS reported by ChannelAdvisor Corporation for the previous quarter, Wall Street now forecasts 40.00 % negative EPS growth.

ChannelAdvisor Corporation (NYSE:ECOM) Ratings Coverage

Among 4 analysts covering ChannelAdvisor (NYSE:ECOM), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. ChannelAdvisor had 5 analyst reports since April 23, 2018 according to SRatingsIntel. DA Davidson maintained ChannelAdvisor Corporation (NYSE:ECOM) on Monday, April 23 with “Buy” rating. The rating was maintained by Needham on Friday, May 11 with “Buy”. The stock of ChannelAdvisor Corporation (NYSE:ECOM) earned “Buy” rating by First Analysis on Wednesday, June 13. The stock of ChannelAdvisor Corporation (NYSE:ECOM) earned “Buy” rating by First Analysis on Monday, April 23.

More news for ChannelAdvisor Corporation (NYSE:ECOM) were recently published by: Nasdaq.com, which released: “Analysis: Positioning to Benefit within PagSeguro Digital, ChannelAdvisor, Transocean, Arcos Dorados, Precision …” on August 21, 2018. Bizjournals.com‘s article titled: “ChannelAdvisor CEO opines on tariffs, taxes” and published on August 10, 2018 is yet another important article.

ChannelAdvisor Corporation provides software-as-a-service solutions in the United States and internationally. The company has market cap of $330.12 million. The Company’s e-commerce cloud platform helps retailers and branded manufacturers to improve their online performance by expanding sales channels, connecting with clients around the world, optimizing their activities for peak performance, and providing actionable analytics to improve competitiveness. It currently has negative earnings. The Company’s suite of solutions include various modules, including Marketplaces module that connects clients to third-party marketplaces; and Digital Marketing module, which connects clients to compare shopping Websites that allow clients to advertise products on search engines.

ChannelAdvisor Corporation (NYSE:ECOM) Institutional Positions Chart

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