Brightcove Inc. (NASDAQ:BCOV) Short Interest Down 22.6% in August

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totalling 126,500 shares, a decline of 22.6% from the July 31st total of 163,500 shares. Based on an average daily volume of 308,600 shares, the short-interest ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Brightcove from a "buy" rating to a "hold" rating in a research report on Monday.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of Brightcove stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $39,600.00. Following the transaction, the insider now directly owns 6,581,414 shares of the company's stock, valued at $13,031,199.72. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders bought 60,700 shares of company stock worth $121,514 in the last three months. Corporate insiders own 3.70% of the company's stock.

Institutional Trading of Brightcove

Institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC bought a new position in shares of Brightcove during the second quarter valued at about $3,114,000. First Eagle Investment Management LLC bought a new position in Brightcove in the first quarter worth about $642,000. Acadian Asset Management LLC raised its stake in Brightcove by 17.3% in the second 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 in the last quarter. GSA Capital Partners LLP raised its stake in Brightcove by 151.0% in the first 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 in the last quarter. Finally, Lynrock Lake LP raised its stake in Brightcove by 2.3% in the second quarter. Lynrock Lake LP now owns 4,407,745 shares of the software maker's stock worth $10,446,000 after buying an additional 100,000 shares in the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Stock Down 0.9 %

NASDAQ:BCOV traded down $0.02 during midday trading on Friday, hitting $2.23. The company had a trading volume of 90,172 shares, compared to its average volume of 253,476. The stock's fifty day moving average price is $2.31 and its 200-day moving average price is $2.09. Brightcove has a 52-week low of $1.55 and a 52-week high of $3.96. The company has a market capitalization of $99.42 million, a PE ratio of -10.14 and a beta of 0.74.

Brightcove (NASDAQ:BCOV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. The business had revenue of $49.25 million during the quarter. During the same quarter in the previous year, the company earned ($0.07) earnings per share. As a group, research analysts forecast that Brightcove will post -0.31 earnings per share 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.