Brightcove (NASDAQ:BCOV) Stock Crosses Above Two Hundred Day Moving Average of $2.20

Brightcove Inc. (NASDAQ:BCOV)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.20 and traded as high as $2.22. Brightcove shares last traded at $2.11, with a volume of 244,184 shares.

Wall Street Analyst Weigh In

BCOV has been the subject of several analyst reports. Lake Street Capital restated a “hold” rating and issued a $3.00 target price on shares of Brightcove in a report on Friday, February 23rd. Rosenblatt Securities lowered their target price on shares of Brightcove from $7.50 to $5.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Finally, StockNews.com upgraded shares of Brightcove from a “hold” rating to a “buy” rating in a report on Friday, March 22nd.

Brightcove Trading Down 2.7 %

The company has a market cap of $94.96 million, a PE ratio of -9.68 and a beta of 0.66. The company’s 50 day moving average is $1.87 and its 200 day moving average is $2.19.

Brightcove (NASDAQ:BCOV) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $50.16 million for the quarter. Brightcove had a negative net margin of 4.74% and a negative return on equity of 7.87%. Analysts expect that Brightcove Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at Brightcove

In other Brightcove news, major shareholder Edenbrook Capital, Llc bought 30,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of $1.88 per share, with a total value of $56,400.00. Following the transaction, the insider now owns 6,435,437 shares of the company’s stock, valued at approximately $12,098,621.56. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 56,541 shares of company stock valued at $102,598. Company insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BCOV. Acadian Asset Management LLC grew its position in shares of Brightcove by 2.9% in the 3rd quarter. Acadian Asset Management LLC now owns 632,164 shares of the software maker’s stock worth $2,079,000 after buying an additional 17,864 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Brightcove by 64.6% in the 3rd quarter. Quadrature Capital Ltd now owns 40,250 shares of the software maker’s stock worth $132,000 after purchasing an additional 15,796 shares in the last quarter. Barclays PLC boosted its stake in Brightcove by 22.2% in the 3rd quarter. Barclays PLC now owns 57,390 shares of the software maker’s stock worth $189,000 after purchasing an additional 10,420 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Brightcove by 55.3% in the 4th quarter. Mackenzie Financial Corp now owns 22,993 shares of the software maker’s stock worth $60,000 after purchasing an additional 8,186 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Brightcove by 32.0% in the 4th quarter. SG Americas Securities LLC now owns 25,612 shares of the software maker’s stock worth $66,000 after purchasing an additional 6,210 shares in the last quarter. 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.