Brightcove Inc. (NASDAQ:BCOV) Short Interest Update

Brightcove Inc. (NASDAQ:BCOV) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 304,900 shares, an increase of 86.4% from the September 30th total of 163,600 shares. Based on an average daily volume of 153,600 shares, the days-to-cover ratio is presently 2.0 days.

Insider Activity

In other news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of Brightcove stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $2.07 per share, with a total value of $41,400.00. Following the completion of the purchase, the insider now owns 6,651,535 shares in the company, valued at $13,768,677.45. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 98,988 shares of company stock valued at $200,689. 3.70% of the stock is currently owned by insiders.

Institutional Trading of Brightcove

A number of institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in shares of Brightcove by 11.0% in the 2nd 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. Quadrature Capital Ltd boosted its stake in Brightcove by 12.4% in the 1st quarter. Quadrature Capital Ltd now owns 84,963 shares of the software maker’s stock worth $165,000 after purchasing an additional 9,353 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Brightcove by 89.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,454 shares of the software maker’s stock worth $42,000 after purchasing an additional 10,120 shares in the last quarter. Pitcairn Co. acquired a new stake in Brightcove in the 1st quarter worth approximately $27,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Brightcove in the 2nd quarter worth approximately $34,000. 80.12% of the stock is currently owned by institutional investors.

Brightcove Price Performance

NASDAQ BCOV traded down $0.01 during trading on Monday, reaching $2.25. 49,103 shares of the company’s stock traded hands, compared to its average volume of 230,481. The firm has a market cap of $100.31 million, a price-to-earnings ratio of -10.27 and a beta of 0.74. The company’s 50 day simple moving average is $2.17 and its two-hundred day simple moving average is $2.14. Brightcove has a 12-month low of $1.55 and a 12-month high of $3.10.

Brightcove (NASDAQ:BCOV) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported ($0.09) earnings per share for the quarter, beating 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 for the quarter. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Research analysts expect that Brightcove will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.