Brightcove Inc. (NASDAQ:BCOV) Short Interest Up 38.8% in November

Brightcove Inc. (NASDAQ:BCOV) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 210,900 shares, an increase of 38.8% from the November 15th total of 152,000 shares. Based on an average daily volume of 479,100 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BCOV. Lake Street Capital lowered shares of 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 issued a $4.45 price target (down from $5.00) on shares of Brightcove in a report on Monday, November 25th. Finally, StockNews.com initiated coverage on shares of Brightcove in a research note on Tuesday. They set a “buy” rating on the stock.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc purchased 20,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the acquisition, the insider now owns 6,651,535 shares of the company’s stock, valued at $13,768,677.45. The trade was a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have purchased 32,158 shares of company stock worth $66,455. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brightcove

Several large investors have recently made changes to their positions in BCOV. Geode Capital Management LLC grew its holdings in Brightcove by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 488,275 shares of the software maker’s stock worth $1,055,000 after buying an additional 37,584 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 valued at $530,000 after purchasing 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 purchasing an additional 120,121 shares during the period. P.A.W. Capital Corp bought a new position in Brightcove in the 3rd quarter valued at about $540,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Brightcove during the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 80.12% of the company’s stock.

Brightcove Price Performance

BCOV traded up $0.02 during trading on Friday, reaching $4.34. 164,008 shares of the company were exchanged, compared to its average volume of 310,344. Brightcove has a 52 week low of $1.55 and a 52 week high of $4.39. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $2.48.

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.