Brightcove (NASDAQ:BCOV) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Brightcove Inc. (NASDAQ:BCOV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.63 and traded as high as $4.39. Brightcove shares last traded at $4.37, with a volume of 216,108 shares trading hands.

Wall Street Analyst Weigh In

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

Brightcove Stock Down 0.2 %

The stock has a market cap of $196.79 million, a price-to-earnings ratio of -20.76 and a beta of 1.02. The company has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $2.64.

Hedge Funds Weigh In On Brightcove

A number of institutional investors have recently added to or reduced their stakes in BCOV. Edenbrook Capital LLC boosted its position in Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker’s stock valued at $14,367,000 after buying an additional 120,121 shares in the last quarter. Lynrock Lake LP boosted its holdings in shares of Brightcove by 2.3% during the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock valued at $10,446,000 after acquiring an additional 100,000 shares in the last quarter. Nantahala Capital Management LLC bought a new stake in Brightcove during the 2nd quarter worth $3,114,000. Acadian Asset Management LLC increased its holdings in Brightcove by 17.3% in the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after purchasing an additional 139,049 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in 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 purchasing an additional 269,302 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.