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

Brightcove Inc. (NASDAQ:BCOV) was the target of a significant 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 trading volume of 479,100 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BCOV shares. Lake Street Capital downgraded Brightcove from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Rosenblatt Securities reissued a “neutral” rating and set a $4.45 price objective (down from $5.00) on shares of Brightcove in a research note on Monday, November 25th. Finally, StockNews.com assumed coverage on Brightcove in a report on Tuesday. They set a “buy” rating on the stock.

Brightcove Stock Up 0.5 %

BCOV traded up $0.02 on Friday, reaching $4.34. 164,008 shares of the company’s stock were exchanged, compared to its average volume of 310,344. Brightcove has a twelve month low of $1.55 and a twelve month high of $4.39. The company’s 50 day moving average is $3.00 and its 200-day moving average is $2.48.

Insider Activity

In related news, major shareholder Edenbrook Capital, Llc bought 20,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $41,400.00. Following the transaction, the insider now owns 6,651,535 shares of the company’s stock, valued at approximately $13,768,677.45. This trade represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought a total of 32,158 shares of company stock valued at $66,455 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Brightcove

A number of hedge funds have recently made changes to their positions in BCOV. Aaron Wealth Advisors LLC acquired a new position in Brightcove during the 2nd quarter worth approximately $34,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Brightcove during the first quarter valued at approximately $29,000. XTX Topco Ltd acquired a new position in shares of Brightcove during the second quarter worth $36,000. Wedbush Securities Inc. acquired a new stake in Brightcove during the 2nd quarter valued at $47,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Brightcove during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 80.12% of the company’s stock.

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.