Short Interest in Brightcove Inc. (NASDAQ:BCOV) Grows By 111.6%

Brightcove Inc. (NASDAQ:BCOV) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 163,600 shares, a growth of 111.6% from the September 15th total of 77,300 shares. Based on an average daily trading volume, of 175,900 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

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

Brightcove Stock Up 4.5 %

Shares of Brightcove stock traded up $0.10 during trading on Friday, hitting $2.33. 75,393 shares of the company were exchanged, compared to its average volume of 237,964. The firm has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.11. The stock has a market capitalization of $103.88 million, a price-to-earnings ratio of -10.59 and a beta of 0.74. Brightcove has a fifty-two week low of $1.55 and a fifty-two week high of $3.18.

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

Insider Buying and Selling at Brightcove

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the stock in a transaction on 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. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 88,926 shares of company stock worth $179,825 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brightcove

Several large investors have recently made changes to their positions in the business. Pitcairn Co. acquired a new stake in shares of Brightcove in the first quarter worth about $27,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Brightcove during the first quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Brightcove in the first quarter valued at approximately $33,000. Aaron Wealth Advisors LLC bought a new position in Brightcove during the 2nd quarter worth approximately $34,000. Finally, XTX Topco Ltd acquired a new position in Brightcove in the second quarter valued at about $36,000. Institutional investors own 80.12% of the company’s stock.

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.