Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 15.3% in January

Brightcove Inc. (NASDAQ:BCOV - Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 230,800 shares, a growth of 15.3% from the December 31st total of 200,100 shares. Based on an average daily volume of 567,900 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Lake Street Capital downgraded Brightcove from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 25th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $4.45 price objective (down from $5.00) on shares of Brightcove in a report on Monday, November 25th. Finally, StockNews.com started coverage on shares of Brightcove in a research report on Tuesday. They issued a "buy" rating on the stock.

Hedge Funds Weigh In On Brightcove

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Brightcove in the second quarter valued at approximately $36,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Brightcove during the 2nd quarter worth approximately $54,000. JPMorgan Chase & Co. boosted its holdings in shares of Brightcove by 99.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 30,689 shares of the software maker's stock valued at $66,000 after buying an additional 15,291 shares in the last quarter. R Squared Ltd purchased a new position in shares of Brightcove in the 4th quarter valued at $90,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Brightcove during the 2nd quarter worth $142,000. 80.12% of the stock is owned by institutional investors and hedge funds.

Brightcove Price Performance

BCOV traded up $0.02 during trading hours on Tuesday, reaching $4.46. The company's stock had a trading volume of 301,200 shares, compared to its average volume of 377,638. The business's 50-day moving average is $4.37 and its 200-day moving average is $3.05. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $4.46. The stock has a market cap of $202.35 million, a PE ratio of -21.21 and a beta of 1.01.

About Brightcove

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.