Short Interest in Brightcove Inc. (NASDAQ:BCOV) Increases By 111.6%

Brightcove Inc. (NASDAQ:BCOV) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 163,600 shares, a growth of 111.6% from the September 15th total of 77,300 shares. Based on an average daily volume of 175,900 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling

In other news, major shareholder Edenbrook Capital, Llc bought 30,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $2.01 per share, for a total transaction of $60,300.00. Following the completion of the purchase, the insider now owns 6,561,414 shares of the company’s stock, valued at approximately $13,188,442.14. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought 88,926 shares of company stock worth $179,825 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brightcove

Institutional investors have recently modified their holdings of the business. Pitcairn Co. acquired a new position in shares of Brightcove in the 1st quarter valued at $27,000. Price T Rowe Associates Inc. MD bought a new stake in Brightcove in the first quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brightcove in the first quarter valued at about $33,000. Aaron Wealth Advisors LLC acquired a new position in Brightcove in the second quarter valued at about $34,000. Finally, XTX Topco Ltd bought a new position in Brightcove during the second quarter worth about $36,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

Analyst Ratings Changes

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

Brightcove Stock Up 4.5 %

BCOV stock traded up $0.10 during trading on Friday, hitting $2.33. The company had a trading volume of 75,393 shares, compared to its average volume of 237,964. The stock has a market cap of $103.88 million, a price-to-earnings ratio of -10.59 and a beta of 0.74. The firm has a 50-day moving average price of $2.15 and a 200-day moving average price of $2.11. Brightcove has a 12 month low of $1.55 and a 12 month high of $3.18.

Brightcove (NASDAQ:BCOV) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business 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 last year, the company earned ($0.07) EPS. Equities analysts expect that Brightcove will post -0.32 EPS for the current 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.