Brightcove (NASDAQ:BCOV) Upgraded at StockNews.com

StockNews.com upgraded shares of Brightcove (NASDAQ:BCOV) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

Separately, Lake Street Capital upgraded Brightcove from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.75 to $3.50 in a research note on Tuesday, November 5th.

Brightcove Trading Up 0.7 %

Shares of BCOV opened at $3.00 on Tuesday. Brightcove has a twelve month low of $1.55 and a twelve month high of $3.06. The company has a market cap of $134.76 million, a P/E ratio of -14.29 and a beta of 0.74. The company’s fifty day simple moving average is $2.27 and its 200-day simple moving average is $2.21.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now directly owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 48,988 shares of company stock valued at $100,789. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC acquired a new stake in Brightcove during the first quarter worth $642,000. P.A.W. Capital Corp purchased a new stake in Brightcove during the 3rd quarter worth about $540,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Brightcove in the second quarter valued at approximately $142,000. Nantahala Capital Management LLC purchased a new stake in shares of Brightcove during the 2nd quarter worth $3,114,000. Finally, GSA Capital Partners LLP boosted its position in shares of Brightcove by 151.0% during the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock worth $437,000 after acquiring an additional 135,462 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Brightcove Company Profile

Brightcove Inc provides cloud-based streaming services the Americas, Europe, the Asia Pacific, Japan, India, and the Middle East. It offers Video Cloud, an online video streaming platform that enables its customers to publish, deliver, and distribute high-quality video to internet-connected devices. The company’s solutions and products comprise Brightcove Marketing Studio, a video streaming solution; Brightcove Communications Studio for marketers and corporate communications professionals; Brightcove Media Studio, a solution for over-the-top (OTT) video services, media publishers, and leading broadcasters to monetize their media, live stream at scale, and nurture their audience lifecycle; Brightcove Audience Insights, a customer data platform for video streaming businesses; Zencoder, a cloud-based video encoding service; and Brightcove Beacon, a platform that enables its customers to launch premium OTT video streaming experiences, as well as Brightcove Marketplace.