Brightcove Inc. (NASDAQ:BCOV) Sees Significant Decrease in Short Interest

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 200,100 shares, a decline of 5.1% from the November 30th total of 210,900 shares. Based on an average daily trading volume, of 499,100 shares, the days-to-cover ratio is currently 0.4 days.

Brightcove Stock Down 0.2 %

NASDAQ:BCOV traded down $0.01 during trading hours on Tuesday, reaching $4.35. 1,551,467 shares of the stock were exchanged, compared to its average volume of 312,800. The stock has a market capitalization of $196.34 million, a P/E ratio of -20.71 and a beta of 1.02. The firm has a 50 day simple moving average of $3.50 and a 200-day simple moving average of $2.68. Brightcove has a 52 week low of $1.55 and a 52 week high of $4.40.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Lake Street Capital cut Brightcove from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Rosenblatt Securities reiterated a "neutral" rating and set a $4.45 price objective (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Finally, StockNews.com began coverage on shares of Brightcove in a research report on Thursday, December 26th. They issued a "buy" rating for the company.

Hedge Funds Weigh In On Brightcove

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Brightcove by 99.3% during the third quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker's stock worth $66,000 after purchasing an additional 15,291 shares during the period. Geode Capital Management LLC grew its position in shares of Brightcove by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker's stock valued at $1,055,000 after buying an additional 37,584 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Brightcove by 1,124.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 245,526 shares of the software maker's stock worth $530,000 after acquiring an additional 225,482 shares during the period. Edenbrook Capital LLC lifted its holdings in Brightcove by 1.8% in the third quarter. Edenbrook Capital LLC now owns 6,651,535 shares of the software maker's stock worth $14,367,000 after acquiring an additional 120,121 shares during the last quarter. Finally, P.A.W. Capital Corp acquired a new position in Brightcove in the third quarter valued at approximately $540,000. 80.12% of the stock is currently owned by 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.