Brightcove (NASDAQ:BCOV) Upgraded to Strong-Buy at StockNews.com

Brightcove (NASDAQ:BCOV) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Separately, Lake Street Capital raised Brightcove from a “hold” rating to a “buy” rating and increased their price target for the company from $2.75 to $3.50 in a research note on Tuesday, November 5th.

Brightcove Stock Up 1.0 %

NASDAQ:BCOV traded up $0.03 during trading hours on Tuesday, reaching $3.02. 543,836 shares of the stock were exchanged, compared to its average volume of 239,323. Brightcove has a 52 week low of $1.55 and a 52 week high of $3.05. The firm has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $2.20. The stock has a market capitalization of $135.66 million, a P/E ratio of -14.38 and a beta of 0.74.

Insider Buying and Selling at Brightcove

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $2.07 per share, with a total value of $41,400.00. Following the acquisition, the insider now owns 6,651,535 shares in the company, valued at approximately $13,768,677.45. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 48,988 shares of company stock valued at $100,789 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brightcove

Several institutional investors have recently modified their holdings of the business. Lynrock Lake LP raised its stake in Brightcove by 2.3% in the 2nd quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker’s stock worth $10,446,000 after purchasing an additional 100,000 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Brightcove during the 2nd quarter valued at approximately $3,114,000. Acadian Asset Management LLC grew its position in shares of Brightcove by 17.3% during the 2nd quarter. Acadian Asset Management LLC now owns 940,508 shares of the software maker’s stock worth $2,227,000 after buying an additional 139,049 shares during the period. First Eagle Investment Management LLC grew its position in Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock valued at $1,423,000 after purchasing an additional 269,302 shares during the period. Finally, P.A.W. Capital Corp bought a new stake in shares of Brightcove during the third quarter worth about $540,000. Institutional investors own 80.12% of the company’s stock.

About Brightcove

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.