Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 77,300 shares, a decline of 45.5% from the August 31st total of 141,800 shares. Based on an average trading volume of 289,000 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

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

Brightcove Stock Up 1.9 %

BCOV stock traded up $0.04 during midday trading on Friday, hitting $2.15. The company’s stock had a trading volume of 282,491 shares, compared to its average volume of 241,107. The stock’s 50-day moving average price is $2.17 and its 200 day moving average price is $2.08. Brightcove has a 1 year low of $1.55 and a 1 year high of $3.37. The stock has a market cap of $95.85 million, a price-to-earnings ratio of -9.77 and a beta of 0.74.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The business had revenue of $49.25 million for the quarter. During the same period in the prior year, the firm posted ($0.07) EPS. As a group, equities analysts forecast that Brightcove will post -0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $2.01 per share, with a total value of $60,300.00. Following the completion of the transaction, the insider now directly owns 6,561,414 shares in the company, valued at $13,188,442.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 68,926 shares of company stock worth $138,425 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lynrock Lake LP boosted its position in Brightcove by 2.3% in the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after purchasing an additional 100,000 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Brightcove during the 2nd quarter valued at $3,114,000. Acadian Asset Management LLC lifted its position in shares of Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock valued at $2,227,000 after buying an additional 139,049 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of Brightcove by 81.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after buying an additional 269,302 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Brightcove by 151.0% during the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker’s stock valued at $437,000 after buying an additional 135,462 shares during the last quarter. Hedge funds and other institutional investors own 80.12% of the company’s stock.

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.