Brightcove (NASDAQ:BCOV) Stock Price Passes Above 200 Day Moving Average - Here's Why

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.19 and traded as high as $3.05. Brightcove shares last traded at $3.02, with a volume of 543,836 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BCOV. StockNews.com upgraded Brightcove from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Lake Street Capital upgraded Brightcove from a "hold" rating to a "buy" rating and lifted their price target for the company from $2.75 to $3.50 in a research report on Tuesday, November 5th.

Brightcove Price Performance

The company has a fifty day simple moving average of $2.23 and a 200 day simple moving average of $2.20.

Insiders Place Their Bets

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the completion of the transaction, the insider now owns 6,651,535 shares of the company's stock, valued at $13,768,677.45. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 48,988 shares of company stock valued at $100,789. Company insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Brightcove

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Brightcove in the first quarter worth about $33,000. BNP Paribas Financial Markets grew its holdings in shares of Brightcove by 26.6% in the first quarter. BNP Paribas Financial Markets now owns 107,074 shares of the software maker's stock worth $208,000 after purchasing an additional 22,466 shares during the last quarter. GSA Capital Partners LLP increased its stake in Brightcove by 151.0% in the 1st quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker's stock worth $437,000 after buying an additional 135,462 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Brightcove by 89.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker's stock valued at $42,000 after buying an additional 10,120 shares during the period. Finally, First Eagle Investment Management LLC purchased a new position in shares of Brightcove during the first quarter worth approximately $642,000. 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.