Brightcove Inc. (NASDAQ:BCOV) Sees Significant Increase in Short Interest

Brightcove Inc. (NASDAQ:BCOV) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,660,000 shares, an increase of 7.1% from the March 31st total of 1,550,000 shares. Based on an average daily volume of 226,000 shares, the days-to-cover ratio is presently 7.3 days.

Wall Street Analyst Weigh In

BCOV has been the subject of several analyst reports. StockNews.com raised Brightcove from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Lake Street Capital reissued a “hold” rating and issued a $3.00 price objective on shares of Brightcove in a report on Friday, February 23rd. Finally, Rosenblatt Securities reduced their price target on Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a report on Friday, February 23rd.

Brightcove Trading Up 2.2 %

NASDAQ BCOV opened at $1.82 on Thursday. The stock has a market capitalization of $80.83 million, a price-to-earnings ratio of -3.37 and a beta of 0.68. Brightcove has a twelve month low of $1.55 and a twelve month high of $4.56. The stock has a 50-day moving average of $1.89 and a 200 day moving average of $2.29.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $50.16 million during the quarter. Brightcove had a negative return on equity of 17.02% and a negative net margin of 11.38%. Equities analysts predict that Brightcove will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc acquired 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of $1.88 per share, with a total value of $56,400.00. Following the acquisition, the insider now directly owns 6,435,437 shares in the company, valued at approximately $12,098,621.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 56,541 shares of company stock worth $102,598. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brightcove

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Brightcove by 26.6% during the 1st quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker’s stock worth $208,000 after buying an additional 22,466 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Brightcove during the 1st quarter worth approximately $33,000. Quadrature Capital Ltd increased its stake in Brightcove by 87.9% during the 4th quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker’s stock worth $196,000 after buying an additional 35,360 shares in the last quarter. Monaco Asset Management SAM purchased a new stake in Brightcove during the 4th quarter worth approximately $142,000. Finally, Keel Point LLC purchased a new stake in Brightcove during the 4th quarter worth approximately $34,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

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.