Brightcove Inc. (NASDAQ:BCOV) Sees Large Growth in Short Interest

Brightcove Inc. (NASDAQ:BCOV) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 230,800 shares, a growth of 15.3% from the December 15th total of 200,100 shares. Based on an average trading volume of 567,900 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

Several brokerages have recently weighed in on BCOV. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $4.45 target price (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 report on Saturday, January 11th. They set a “buy” rating on the stock.

Brightcove Price Performance

Shares of Brightcove stock remained flat at $4.42 during trading on Friday. The company had a trading volume of 120,611 shares, compared to its average volume of 424,135. Brightcove has a 12 month low of $1.55 and a 12 month high of $4.44. The stock has a 50-day simple moving average of $4.09 and a 200-day simple moving average of $2.89. The stock has a market cap of $199.52 million, a PE ratio of -21.05 and a beta of 1.01.

Institutional Trading of Brightcove

A number of large investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in Brightcove in the second quarter worth approximately $36,000. Cubist Systematic Strategies LLC bought a new position in shares of Brightcove during the 2nd quarter valued at $54,000. JPMorgan Chase & Co. boosted its stake 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 worth $66,000 after buying an additional 15,291 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Brightcove in the second quarter worth $142,000. Finally, AQR Capital Management LLC purchased a new stake in Brightcove during the second quarter valued at $143,000. 80.12% of the stock is currently owned by institutional investors.

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.