Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 230,800 shares, a growth of 15.3% from the December 15th total of 200,100 shares. Based on an average daily volume of 567,900 shares, the short-interest ratio is presently 0.4 days.

Brightcove Stock Performance

Shares of Brightcove stock remained flat at $4.42 on Friday. 120,611 shares of the stock were exchanged, compared to its average volume of 424,135. The stock’s 50-day moving average price is $4.09 and its 200 day moving average price is $2.89. Brightcove has a 52-week low of $1.55 and a 52-week high of $4.44. The stock has a market capitalization of $199.52 million, a P/E ratio of -21.05 and a beta of 1.01.

Institutional Trading of Brightcove

Several institutional investors and hedge funds have recently bought and sold shares of the company. Edenbrook Capital LLC boosted its position in shares of 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 last quarter. Lynrock Lake LP lifted its position in Brightcove by 2.3% during the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after purchasing an additional 100,000 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Brightcove in the 2nd quarter worth approximately $3,114,000. First Eagle Investment Management LLC increased its holdings in shares of Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after buying an additional 269,302 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares during the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. StockNews.com started coverage on Brightcove in a research note on Saturday, January 11th. They issued a “buy” rating for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $4.45 target price (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th.

About Brightcove

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.