Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 12.1% in August

Brightcove Inc. (NASDAQ:BCOV) was the target of a large growth in short interest in 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 daily trading volume, of 294,600 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $1.98 per share, for a total transaction of $39,600.00. Following the transaction, the insider now owns 6,581,414 shares of the company’s stock, valued at $13,031,199.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired 66,830 shares of company stock valued at $134,233 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Institutional Trading of Brightcove

A number of large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its holdings 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 buying an additional 6,095 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Brightcove by 12.4% in the first quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock valued at $165,000 after purchasing an additional 9,353 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Brightcove by 89.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after purchasing an additional 10,120 shares in the last quarter. Pitcairn Co. purchased a new position in Brightcove during the 1st quarter worth $27,000. Finally, Aaron Wealth Advisors LLC bought a new stake in Brightcove during the 2nd quarter valued at $34,000. 80.12% of the stock is owned by hedge funds and other institutional investors.

Brightcove Stock Performance

NASDAQ BCOV traded down $0.01 during trading on Tuesday, hitting $2.05. The stock had a trading volume of 7,190 shares, compared to its average volume of 242,054. The stock has a market capitalization of $91.39 million, a price-to-earnings ratio of -9.36 and a beta of 0.74. The stock has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $2.09. Brightcove has a one year low of $1.55 and a one year high of $3.70.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $49.25 million during the quarter. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. During the same quarter in the previous year, the firm earned ($0.07) EPS. On average, sell-side analysts predict 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.