Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

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

Insider Activity at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $1.98 per share, for a total transaction of $39,600.00. Following the purchase, the insider now owns 6,581,414 shares in the company, valued at $13,031,199.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have acquired 68,926 shares of company stock worth $138,425. Company insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Brightcove

A number of hedge funds have recently added to or reduced their stakes in BCOV. Pitcairn Co. bought a new stake in Brightcove in the first quarter worth approximately $27,000. Price T Rowe Associates Inc. MD bought a new stake in Brightcove in the first quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Brightcove in the first quarter worth approximately $33,000. Aaron Wealth Advisors LLC bought a new stake in Brightcove in the second quarter worth approximately $34,000. Finally, XTX Topco Ltd bought a new stake in Brightcove in the second quarter worth approximately $36,000. 80.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Brightcove Stock Up 1.9 %

Shares of BCOV stock traded up $0.04 during mid-day trading on Friday, reaching $2.15. 282,491 shares of the stock traded hands, compared to its average volume of 241,107. The stock’s fifty day simple moving average is $2.17 and its two-hundred day simple moving average is $2.08. The company has a market cap of $95.85 million, a price-to-earnings ratio of -9.77 and a beta of 0.74. Brightcove has a 1-year low of $1.55 and a 1-year high of $3.37.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data 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 company had revenue of $49.25 million for the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, equities research analysts anticipate that Brightcove will post -0.32 EPS for the current fiscal year.

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.