StockNews.com Initiates Coverage on Brightcove (NASDAQ:BCOV)

Investment analysts at StockNews.com started coverage on shares of Brightcove (NASDAQ:BCOV) in a report released on Friday. The brokerage set a “buy” rating on the software maker’s stock.

A number of other brokerages have also recently issued reports on BCOV. Lake Street Capital cut shares of Brightcove from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Rosenblatt Securities reiterated 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.

Brightcove Stock Up 0.7 %

NASDAQ BCOV opened at $4.36 on Friday. The firm has a market cap of $196.79 million, a P/E ratio of -20.76 and a beta of 1.01. The company’s 50 day moving average is $3.68 and its 200-day moving average is $2.74. Brightcove has a 12-month low of $1.55 and a 12-month high of $4.40.

Institutional Trading of Brightcove

A number of hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC increased its stake in Brightcove by 81.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 600,334 shares of the software maker’s stock worth $1,423,000 after purchasing an additional 269,302 shares during the period. Edenbrook Capital LLC increased its stake in shares of 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 buying an additional 120,121 shares during the period. P.A.W. Capital Corp purchased a new position in shares of Brightcove in the third quarter worth $540,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Brightcove during the 2nd quarter valued at $142,000. Finally, Nantahala Capital Management LLC purchased a new stake in Brightcove during the 2nd quarter valued at $3,114,000. 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.