Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 38.8% in November

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 210,900 shares, a growth of 38.8% from the November 15th total of 152,000 shares. Based on an average daily trading volume, of 479,100 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BCOV. StockNews.com assumed coverage on shares of Brightcove in a research report on Tuesday. They set a "buy" rating for the company. Rosenblatt Securities restated a "neutral" rating and set a $4.45 price objective (down from $5.00) on shares of Brightcove in a research report on Monday, November 25th. Finally, Lake Street Capital cut Brightcove from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th.

Brightcove Stock Performance

BCOV stock traded up $0.01 during trading on Friday, hitting $4.33. The stock had a trading volume of 198,453 shares, compared to its average volume of 310,505. Brightcove has a 1-year low of $1.55 and a 1-year high of $4.39. The stock has a market cap of $195.46 million, a price-to-earnings ratio of -20.62 and a beta of 1.02. The company's 50 day moving average price is $3.04 and its two-hundred day moving average price is $2.50.

Insiders Place Their Bets

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business's stock in a transaction dated Thursday, September 26th. The stock was acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the purchase, the insider now directly owns 6,651,535 shares of the company's stock, valued at $13,768,677.45. This represents a 0.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have purchased 32,158 shares of company stock worth $66,455. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brightcove

Institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in Brightcove in the first quarter valued at $29,000. Aaron Wealth Advisors LLC purchased a new position in shares of Brightcove during the 2nd quarter worth about $34,000. XTX Topco Ltd acquired a new stake in shares of Brightcove in the second quarter worth approximately $36,000. Wedbush Securities Inc. purchased a new stake in Brightcove in the second quarter valued at approximately $47,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Brightcove in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 80.12% of the company's stock.

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.