Brightcove Inc. (NASDAQ:BCOV) Short Interest Down 18.2% in October

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 249,300 shares, a drop of 18.2% from the October 15th total of 304,900 shares. Based on an average trading volume of 186,700 shares, the days-to-cover ratio is currently 1.3 days.

Brightcove Stock Up 1.3 %

BCOV opened at $3.04 on Friday. The stock has a market capitalization of $137.23 million, a price-to-earnings ratio of -14.48 and a beta of 0.74. The firm has a 50 day moving average price of $2.29 and a 200-day moving average price of $2.22. Brightcove has a twelve month low of $1.55 and a twelve month high of $3.06.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the purchase, the insider now owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This represents a 0.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 48,988 shares of company stock worth $100,789 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brightcove

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC bought a new stake in shares of Brightcove during the 1st quarter valued at about $642,000. P.A.W. Capital Corp purchased a new stake in Brightcove during the third quarter valued at approximately $540,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Brightcove in the second quarter worth approximately $142,000. Nantahala Capital Management LLC purchased a new position in shares of Brightcove during the 2nd quarter worth $3,114,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Brightcove during the 2nd quarter valued at $34,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BCOV has been the topic of several analyst reports. Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th. StockNews.com raised Brightcove from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

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.