Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 210,900 shares, an increase of 38.8% from the November 15th total of 152,000 shares. Based on an average daily trading volume, of 479,100 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, the insider now directly owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This represents a 0.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 32,158 shares of company stock worth $66,455. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Brightcove by 8.3% in the third quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock valued at $1,055,000 after purchasing an additional 37,584 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Brightcove by 1,124.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker’s stock worth $530,000 after acquiring an additional 225,482 shares in the last quarter. Edenbrook Capital LLC boosted its holdings in Brightcove by 1.8% during the 3rd quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after acquiring an additional 120,121 shares during the period. P.A.W. Capital Corp acquired a new position in Brightcove in the 3rd quarter valued at about $540,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Brightcove in the 2nd quarter valued at about $54,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BCOV. StockNews.com assumed coverage on shares of Brightcove in a research note on Tuesday. They set a “buy” rating for the company. Lake Street Capital lowered Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $4.45 price objective (down previously from $5.00) on shares of Brightcove in a research report on Monday, November 25th.

Brightcove Trading Up 0.2 %

BCOV stock traded up $0.01 during midday trading on Friday, hitting $4.33. 198,453 shares of the company’s stock were exchanged, compared to its average volume of 310,505. Brightcove has a 1-year low of $1.55 and a 1-year high of $4.39. The business has a 50-day simple moving average of $3.04 and a two-hundred day simple moving average of $2.50. The stock has a market capitalization of $195.46 million, a PE ratio of -20.62 and a beta of 1.02.

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.