Short Interest in Brightcove Inc. (NASDAQ:BCOV) Grows By 38.8%

Brightcove Inc. (NASDAQ:BCOV) saw a large increase in short interest in 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 days-to-cover ratio is currently 0.4 days.

Brightcove Price Performance

BCOV stock opened at $4.33 on Friday. The business has a fifty day moving average price of $3.04 and a 200 day moving average price of $2.50. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.39. The stock has a market capitalization of $195.46 million, a price-to-earnings ratio of -20.62 and a beta of 1.02.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, with a total value of $41,400.00. Following the completion of the acquisition, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 32,158 shares of company stock worth $66,455. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Brightcove

A number of hedge funds and other institutional investors have recently made changes to their positions in BCOV. Aaron Wealth Advisors LLC bought a new stake in Brightcove during the 2nd quarter worth about $34,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Brightcove during the first quarter valued at approximately $29,000. XTX Topco Ltd bought a new position in Brightcove in the 2nd quarter valued at $36,000. Wedbush Securities Inc. acquired a new stake in shares of Brightcove in the 2nd quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Brightcove in the second quarter worth about $53,000. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Lake Street Capital cut Brightcove from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $4.45 target price (down previously from $5.00) on shares of Brightcove in a report on Monday, November 25th. Finally, StockNews.com started coverage on shares of Brightcove in a report on Tuesday, December 10th. They set a “buy” rating for the company.

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.