Short Interest in Brightcove Inc. (NASDAQ:BCOV) Increases By 111.6%

Brightcove Inc. (NASDAQ:BCOV) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 163,600 shares, an increase of 111.6% from the September 15th total of 77,300 shares. Based on an average trading volume of 175,900 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Brightcove from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was bought 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 $13,768,677.45. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 88,926 shares of company stock valued at $179,825 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Brightcove

Hedge funds have recently bought and sold shares of the stock. Pitcairn Co. bought a new stake in shares of Brightcove in the first quarter valued at about $27,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Brightcove in the first quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Brightcove in the first quarter worth $33,000. Aaron Wealth Advisors LLC acquired a new stake in Brightcove during the second quarter worth $34,000. Finally, XTX Topco Ltd bought a new stake in Brightcove in the 2nd quarter valued at $36,000. 80.12% of the stock is owned by institutional investors.

Brightcove Trading Up 4.5 %

Brightcove stock traded up $0.10 on Friday, reaching $2.33. 75,393 shares of the stock were exchanged, compared to its average volume of 237,964. Brightcove has a twelve month low of $1.55 and a twelve month high of $3.18. The firm has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $2.11. The stock has a market cap of $103.88 million, a PE ratio of -10.59 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last announced its earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $49.25 million during the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter in the previous year, the company earned ($0.07) EPS. Equities analysts anticipate that Brightcove will post -0.32 EPS for the current fiscal year.

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.