Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 141,800 shares, a growth of 12.1% from the August 15th total of 126,500 shares. Based on an average trading volume of 294,600 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

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

Brightcove Stock Performance

Shares of NASDAQ:BCOV opened at $2.02 on Wednesday. The business’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $2.08. The company has a market cap of $90.06 million, a P/E ratio of -9.18 and a beta of 0.74. Brightcove has a one year low of $1.55 and a one year high of $3.70.

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

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $1.98 per share, with a total value of $39,600.00. Following the transaction, the insider now owns 6,581,414 shares in the company, valued at $13,031,199.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders bought 66,830 shares of company stock worth $134,233 over the last three months. 3.70% of the stock is owned by insiders.

Institutional Trading of Brightcove

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new position in Brightcove in the second quarter valued at about $54,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Brightcove during the 2nd quarter valued at approximately $142,000. Nantahala Capital Management LLC acquired a new stake in shares of Brightcove during the second quarter worth approximately $3,114,000. Lynrock Lake LP raised its holdings in Brightcove by 2.3% in the second 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. Finally, Mackenzie Financial Corp boosted its stake in Brightcove by 11.0% during the 2nd quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after acquiring an additional 6,095 shares during 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.