Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 304,900 shares, a growth of 86.4% from the September 30th total of 163,600 shares. Based on an average daily volume of 153,600 shares, the short-interest ratio is currently 2.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Brightcove from a "hold" rating to a "buy" rating in a research report on Thursday, September 5th.

Insider Activity at Brightcove

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, with a total value of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares of the company's stock, valued at approximately $13,768,677.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 98,988 shares of company stock worth $200,689 over the last three months. Company insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Brightcove

A number of large investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC acquired a new position in Brightcove in the 1st quarter valued at about $642,000. Quadrature Capital Ltd grew its position in Brightcove by 87.9% in the fourth quarter. Quadrature Capital Ltd now owns 75,610 shares of the software maker's stock worth $196,000 after acquiring an additional 35,360 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Brightcove in the second quarter worth approximately $142,000. Nantahala Capital Management LLC acquired a new stake in Brightcove during the second quarter worth $3,114,000. Finally, GSA Capital Partners LLP raised its position in Brightcove by 151.0% in the first quarter. GSA Capital Partners LLP now owns 225,176 shares of the software maker's stock valued at $437,000 after purchasing an additional 135,462 shares during the period. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Brightcove Stock Performance

Shares of BCOV stock traded up $0.02 on Friday, reaching $2.26. 205,060 shares of the company were exchanged, compared to its average volume of 231,357. The company has a market cap of $100.76 million, a price-to-earnings ratio of -10.27 and a beta of 0.74. Brightcove has a 1 year low of $1.55 and a 1 year high of $3.10. The business has a 50-day moving average price of $2.17 and a 200 day moving average price of $2.13.

Brightcove (NASDAQ:BCOV - Get Free Report) last announced its earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. The business 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 period in the previous year, the company earned ($0.07) EPS. As a group, equities analysts anticipate that Brightcove will post -0.32 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.