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

Brightcove Inc. (NASDAQ:BCOV) was the target of 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 trading volume of 153,600 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling

In related news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought 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 approximately $13,031,199.72. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 98,988 shares of company stock valued at $200,689. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brightcove

Several institutional investors have recently added to or reduced their stakes in BCOV. Cubist Systematic Strategies LLC acquired a new stake in shares of Brightcove during the second quarter worth approximately $54,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Brightcove in the 2nd quarter valued at $142,000. Nantahala Capital Management LLC acquired a new stake in shares of Brightcove in the 2nd quarter valued at approximately $3,114,000. Lynrock Lake LP increased its holdings in shares of 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 acquiring an additional 100,000 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Brightcove by 11.0% in the second quarter. Mackenzie Financial Corp now owns 61,329 shares of the software maker’s stock valued at $145,000 after buying an additional 6,095 shares in the last quarter. 80.12% of the stock is owned by institutional investors.

Brightcove Trading Up 0.9 %

NASDAQ:BCOV traded up $0.02 during mid-day trading on Friday, hitting $2.26. The company’s stock had a trading volume of 205,060 shares, compared to its average volume of 231,357. The stock has a fifty day moving average of $2.17 and a 200-day moving average of $2.13. The company has a market capitalization of $100.76 million, a price-to-earnings ratio of -10.27 and a beta of 0.74. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.10.

Brightcove (NASDAQ:BCOV) last posted its earnings results on Wednesday, August 7th. The software maker reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. Brightcove had a negative return on equity of 8.86% and a negative net margin of 4.28%. The business had revenue of $49.25 million during the quarter. During the same quarter last year, the business earned ($0.07) EPS. On average, equities analysts anticipate that Brightcove will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.